BYD celebrated the inauguration of its Thailand plant and the production of its 8 millionth new-energy vehicle on July 4 in Rayong, Thailand, marking two milestones in the company’s global expansion.

BYD completed its Thailand plant in 16 months, with an annual capacity of 150,000 vehicles. The plant will cover the full processes of stamping, painting, welding, final assembly, and producing car components, expected to generate 10,000 jobs.

The same day, BYD marked a historic moment by unveiling its Dolphin model as the 8 millionth NEV, as it reached the goal of producing 8 million NEVs in about only three years since the roll-off of its 1 millionth NEV vehicle.

“BYD’s investment in Thailand, along with its advanced production technology, will drive the development of the new-energy vehicle industry in Thailand and across ASEAN,” said Pimphattra Wichaikul, Thailand’s Minister of Industry.

On July 5, Wang Chuanfu, BYD chairman and president, met with Thai Prime Minister Srettha Thavisin to discuss further cooperation and investment expansion in Thailand.

BYD prospers in Thai soil, as 2023 marked BYD’s first full year of deliveries in the Thai market, with 30,650 registrations and licenses for the year, making it the top seller of pure electric vehicles for the year in Thailand, with a brand market share of over 40 percent.

From January to May 2024, BYD’s cumulative licensing volume in Thailand reached 12,895 units. BYD manufactures three of the four best-selling pure EV models in Thailand.

As the global leader in NEVs, BYD has significantly expanded its overseas presence in recent years.

In 2023, it achieved a 337 percent year-on-year increase in exports, reaching 243,000 vehicles. In the first half of this year, BYD sold 1.607 million NEVs globally, over 203,000 of which were exported, a 173.8 percent year-on-year growth.

BYD has a presence in 88 countries and regions worldwide, with passenger car production bases established in Thailand, Brazil, Hungary, and Uzbekistan.