Rever at present has about 100 dealership retailers, making BYD the dominant automaker in Thailand’s EV market with a 40 p.c share.
(Picture credit score: CnEVPost)
BYD’s (OTCMKTS: BYDDF) sole distributor in Thailand is about to triple the variety of its dealerships within the nation inside two years, because the Chinese language new power car (NEV) large expands its worldwide presence.
By the tip of 2025, Rever Automotive will add 200 dealerships, increase business car choices and enter new passenger automotive segments, Reuters quoted the Thai firm’s CEO Pratarnwong Phornprapha as saying in a report at the moment.
Rever plans to have 200 dealership retailers by the tip of this yr and one other 100 subsequent yr, Pratarnwong stated, in line with the report.
“I believe round 300 for us is a wholesome quantity,” Pratarnwong stated.
Pratarnwong stated Rever at present has about 100 dealerships, making BYD the dominant automaker in Thailand’s electrical car (EV) market with a 40 p.c share, in line with Reuters.
BYD held a joint press convention with Rever in Bangkok on August 8, 2022, to announce its official entry into the Southeast Asian nation’s passenger automotive market.
The primary mannequin it has accessible in Thailand is the Atto 3, recognized in China because the Yuan Plus, which was launched within the nation in October 2022.
As of now, BYD fashions accessible in Thailand embrace the Atto 3, the Seal, and the Dolphin.
Along with passenger vehicles, Rever is wanting to make use of BYD automobiles and expertise to make inroads into business fleets, together with taxis, short-haul vans, vans, and buses, in line with Reuters.
Thailand has greater than 81,000 registered taxis as of September 2023, in line with authorities information, and Rever goals to seize 40 p.c of recent automobiles getting into that market, Pratarnwong stated.
Pratarnwong stated a Rever subsidiary can also be constructing a bus manufacturing facility that can use BYD expertise, with the primary chassis more likely to roll out within the third quarter.
Rever can also be providing BYD T3 vans for limited-distance deliveries through the Covid-19 pandemic, Rever vice CEO Pratarnporn Phornprapha stated, in line with Reuters.
BYD participated within the Thailand auto present from late November to early December and displayed 5 fashions together with the Atto 3, Dolphin, Seal, Yangwang U8 and Denza N7. The corporate garnered 5,455 orders on the present, putting it third on the present’s gross sales listing, it stated final month.
BYD offered a file 341,043 NEVs in December, together with 36,095 offered abroad.
For all of 2023, BYD offered 3,024,417 NEVs and 242,765 abroad, in line with information compiled by CnEVPost.
BYD is constructing a plant in Thailand, which began development in March 2023 and is anticipated to start manufacturing in 2024, with an annual capability of about 150,000 models.
BYD secures 5,455 orders from Thailand auto present