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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. According to recent reports , BYD is pushing back plans for an additional factory in Vietnam amidst the expansion.

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

Baua Electric

Rising EV sales are set to remake the global auto industry and significantly reduce oil consumption for road transport, according to the new edition of the IEA’s annual Global EV Outlook , released today. This shift will have major ramifications for both the auto industry and the energy sector.

Global 52
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Nearly one in five cars sold worldwide in 2023 was electric: IEA | Autocar Professional

Baua Electric

Chinese car makers can undercut rivals in Europe because their production costs are heavily subsidised. The year 2023 was the first in which China’s New Energy Vehicle (NEV) 3 industry ran without support from national subsidies for EV purchases, which have facilitated expansion of the market for more than a decade.