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Southeast Asia market will become a competitive place for Chinese and Japanese car companies

Setec Powerr

Europe, the birthplace of the automobile industry, to North America across the Pacific Ocean, has always been the top stage that Chinese car companies hope to step on. With the current sales figures and the seductive future expectations, Southeast Asia has successfully attracted the attention of Chinese car companies.

Asia 97
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BYD to kick off EV production at new Thailand plant in Q3 as overseas expansion accelerates

Baua Electric

BYD’s general manager of its Asia-Pacific Sales Division said people were lining up to purchase the car after hitting its 10K sales goal in just 42 days. Once up and running, BYD’s new plant in Thailand is expected to build 150,000 EVs a year. Farley said if automakers fail to keep up, “20% to 30% of your revenue is at risk.”

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

Baua Electric

This growth builds on a record-breaking 2023. While demand remained largely concentrated in China, Europe, and the US, growth also picked up in some emerging markets such as Vietnam and Thailand, where electric cars accounted for 15% and 10%, respectively, of all cars sold.

Global 52
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BNEF: global investment in energy transition hit $500B in 2020; $139B on EVs and infrastructure

Green Car Congress

billion in new renewable energy capacity in 2020, up 2% on the year, helped by the biggest-ever build-out of solar projects and a $50-billion surge for offshore wind. China’s e-bus prices have declined, while annual sales have slowed due to the decrease in purchase subsidies as well as market saturation in large cities.

2020 259