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Kia mulls EV plant in Thailand to take on Toyota and BYD with affordable electric cars

Baua Electric

Can Kia challenge Toyota, which has dominated the market in Thailand, with affordable EVs? Chinese automakers like BYD are already stealing market share, but Kia is in talks over a new EV plant in Thailand that could help position itself as an early leader. FTC: We use income earning auto affiliate links.

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BYD to kick off EV production at new Thailand plant in Q3 as overseas expansion accelerates

Baua Electric

BYD is now set to begin production at its new EV plant in Thailand in the third quarter as it looks to accelerate overseas sales. BYD set to begin EV production in Thailand in Q3 After showcasing its full range of brands at the Bangkok Auto Show this week, BYD said it will kick off EV production in the country in Q3.

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BYD plans to launch Tesla Cybertruck competitor in 2024

Teslarati

According to the Chinese company’s announcement, it has developed a midsize-to-large pickup truck for the global market. BYD will probably launch its electric pickup truck in other markets that are interested in pickup trucks, including Thailand. She added that BYD does not have plans to enter the United States.

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Toyota to launch electric Hilux pickup by 2025 as Japanese rival aims to beat it to market

Baua Electric

According to the company’s Thailand president, Toyota will launch an electric Hilux pickup by the end of 2025. Speaking to reports during the Bangkok International Motor Show, Toyota Thailand president Noriaki Kamashita said the Hilux EV would be ready by the end of next year. An all-electric Toyota pickup may be closer than expected.

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BYD Chairman forecasts falling profit margins in 2024

Teslarati

According to the China Passenger Car Association’s (CPCA) Secretary General Chi Dongshu, China’s auto sector’s profit margins have fallen to 4.3% Based on the CPCA Secretary General’s numbers, BYD might not be the only Chinese automaker to see falling profit margins. BYD hopes to ensure stable profitability by improving sales.

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Global EV sales are ‘robust’ – more than 1 in 5 cars sold in 2024 will be electric

Baua Electric

More than 1 in 5 cars sold globally this year is expected to be electric, with surging demand projected over the next decade, says a new International Energy Agency (IEA) report. In 2024, electric car sales in China are projected to jump to about 10 million, accounting for about 45% of all car sales in the country.

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China become the sector’s biggest car exporter in Q1 2023, surpassing Japan

Baua Electric

Within the first quarter of this 12 months, China surpassed Japan and Germany to transform the sector’s biggest car exporter for the primary year, exporting a complete of one.069 Japan impaired to be the sector’s eminent car exporter, exporting 1.047 million automobiles within the first quarter of this 12 months.

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