Hyperdrive
China’s BYD Signs Deal to Build First EV Plant in Thailand
- Thai plant will be Chinese EV maker’s first in Southeast Asia
- Land deal follows partnership with local distributor
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Chinese electric-car maker BYD Co. signed a land purchase deal Thursday with WHA Corp., Thailand’s largest industrial-estates developer, to build its first electric vehicle production plant in Southeast Asia.
The plant is expected to start operation in 2024 and have annual capacity of 150,000 vehicles, mostly for export to Southeast Asia and Europe, the companies said in a joint statement.