BYD opens production and assembly facilities in Vietnam, proposes to form a domestic supply chain

Chinese automaker BYD plans to expand production and assembly of electric vehicles to Vietnam, according to a government statement quoting BYD President Wang Chuanfu, reporting. Reuters.

Through a government-issued statement following a meeting between Vuong Nghi and Vietnamese deputy prime minister Tran Hong Ha last week, Vuong Nghi, who is also the founder of BYD, said he wished Vietnam would facilitate favorable for BYD to complete investment procedures, according to the report.

In February of this year, a Bloomberg The report says three Southeast Asian countries – Vietnam, the Philippines and Indonesia – are competing to organize an assembly plant for BYD electric vehicles.

Currently, BYD’s manufacturing operations in Vietnam are through an assembly plant of electronic equipment and components in the northern province of Phu Tho. The Chinese manufacturer also proposed forming a local supply chain, according to a Vietnamese government statement.

News about BYD’s first electric vehicle factory in Southeast Asia appeared in April 2022and last September, the manufacturer purchased a 96-hectare site in Rayong, car center in Thailand. In January, a divide Reuters report said a factory in Vietnam was planned that would also supply parts for the plant in Thailand.

Meanwhile in the Malaysian market, BYD Atto 3 witnessed 1,000 vehicles delivered in Malaysia in the first 100 days since it was released last Decemberthen it reached Delivery milestone of 100 units to customers in January.