On Monday, Cambodian Prime Minister Hun Manet shared on social media that he met with Liu Xueliang, the Asia-Pacific General Manager of BYD Auto Sales. They discussed BYD’s plan to open an electric vehicle assembly plant in Cambodia, which would be capable of producing 20,000 electric vehicles annually. This would make it BYD’s second production base in Southeast Asia.
Hun Manet mentioned that the vehicles from this factory would not only serve the Cambodian market but also be exported to other countries in the region. Earlier this month, BYD has already started production at its new factory in Thailand, which can produce around 150,000 vehicles per year.
However, BYD’s plans in Vietnam have hit a snag. The company had intended to build an electric vehicle manufacturing plant in the Phu My Industrial Park, but these plans were delayed in March. In May, BYD’s partnership with Vietnamese dealer group NEH was also cancelled. This could impact BYD’s market share in Vietnam, as NEH was expected to account for about 20% of BYD’s dealer network.
Data from the China Association of Automobile Manufacturers shows that Chinese car exports have increased significantly, with a 30.5% year-on-year increase in the first half of this year. BYD, along with Great Wall Motors and Changan Automobile, has seen substantial growth in exports.
According to Cui Dongshu, Secretary-General of the Passenger Car Association, the top five countries importing China’s new energy vehicles from January to May 2024 were Brazil, Belgium, the UK, Thailand, and the Philippines. Thus, Southeast Asia is set to become a major market for these exports.
Many Chinese electric vehicle manufacturers, including BYD, Great Wall Motors, GAC Aion, and Nezha Motors, are setting up factories in Southeast Asian countries like Thailand, Cambodia, and Indonesia. However, their strategies differ depending on the specific conditions and policies of each country.
In Cambodia, the government recently implemented the “Development Policy in the Field of Electric Vehicles (2024-2030)”, which aims to boost the sales of electric vehicles. The policy includes measures like reducing the import of fuel-powered cars, providing car loans to electric vehicle owners, and encouraging the use of electric vehicles in logistics and passenger transport. The goal is to have 30,000 electric vehicles in the country by 2030. Currently, there are nearly 1,600 registered electric vehicles in Cambodia.
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