The company's chair, Wang Chuanfu, expects Vietnam to create favorable conditions for the expansion, but the statement did not mention how much investment BYD would make.
BYD currently has a factory in Vietnam to assemble electronic devices and parts and proposes forming a local supply chain.
The presence of BYD in Vietnam would pose a challenge to VinFast, a local EV maker.
BYD has already announced plans to build an EV assembly plant in Thailand with annual capacity of 150,000 cars from 2024.
LONDON DAILY ARCHIVE
BYD Expands into Electric Vehicle Manufacturing in Vietnam
BYD, a Chinese automaker, plans to expand into electric vehicle (EV) manufacturing and assembly in Vietnam, according to a government statement.
28 May 2023 · 22:15 UTC
