Chinese EV giant BYD to begin Vietnam sales in May
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The world’s biggest electric vehicle maker, China’s BYD, will set up shop in Hanoi in May.
It would sell its first cars in the sedan and SUV segments, sources familiar with the matter said.
Its SUV BYD Atto 3 is among the most sought-after cars globally. It has large demand in Sweden and is the best-selling EV in Thailand.
It has a 60.48-kilowatt-hour battery that allows travel of up to 480 kilometers.
Its prices start from US$30,750 in Thailand.
In Vietnam, BYD cars will be imported as complete units from China.
The company is building a $504-million plant in Thailand, its biggest market outside China, and expects to start production there this year.
In future BYD cars can be imported to Vietnam from Thailand to enjoy the zero import tax applicable to Southeast Asian countries.
BYD, established in 2003, sold 1.62 million electric cars last year, second globally behind Tesla with 1.8 million units, though in the last quarter it outpaced past the U.S. company 526,000 to 484,000.
Ninety percent of its sales were in China.
Questions & Answers
Q.What types of vehicles will BYD initially offer for sale in Vietnam?
What types of vehicles will BYD initially offer for sale in Vietnam?
BYD will initially offer cars in the sedan and SUV segments. Its Atto 3 SUV, which is popular globally and the best-selling EV in Thailand, is among those expected to be available.
Q.How will BYD vehicles be supplied to the Vietnamese market initially?
How will BYD vehicles be supplied to the Vietnamese market initially?
Initially, BYD cars sold in Vietnam will be imported as complete units directly from China. The company has plans for future supply from its new plant in Thailand.
Q.What are BYD's plans for production in Thailand?
What are BYD's plans for production in Thailand?
BYD is constructing a $504-million plant in Thailand, which is its largest market outside China. Production at this new facility is expected to commence sometime this year.
Q.How many electric vehicles did BYD sell last year globally?
How many electric vehicles did BYD sell last year globally?
BYD sold 1.62 million electric cars globally last year. This placed them second overall behind Tesla, which sold 1.8 million units during the same period.
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