BYD is rapidly expanding its operations globally, as the Chinese car manufacturer selects yet another overseas production site. The company has announced its intention to produce electric vehicles (EVs) in Cambodia, following the paths of Ford and Toyota.
New Production Plans
After launching a facility in Thailand in 2024, BYD is now aiming to create a presence in an additional Southeast Asian nation. Discussions with Cambodian authorities about building a production plant are reportedly nearing completion.
During a graduation ceremony at the Royal University of Phnom Penh (RUPP), Cambodian Prime Minister Hun Manet shared this news. He mentioned that a final decision regarding the project is anticipated in 2025.
Boosting the Economy
The Prime Minister is eager to draw in more automakers, especially as some companies adjust their production plans due to geopolitical issues. His administration aims to increase exports in vehicles and electronics to over $2 billion and create more than 22,000 new jobs through these efforts.
Manet reassured potential investors in the auto industry that Cambodia possesses the necessary human resources to support industries that require specialized knowledge and skills.
Opportunities for Growth
In response to the announcement, Natharoun Ngo Son, the Country Director of EnergyLab in Cambodia, remarked that establishing EV production facilities presents an opportunity for Cambodia to enhance the skills of its workforce and generate higher-paying job opportunities. Natharoun’s organization is set to launch a skills development program aimed at supporting Cambodia’s EV sector in 2025.
It's worth noting that Ford began its production in Cambodia in 2022, with Toyota following in May 2024.
BYD's Market Presence
In October 2024, BYD launched its Shark 6 Plug-in Hybrid Electric Vehicle (PHEV) in Cambodia. The company’s new energy vehicle (NEV) division is thriving, reporting over 500,000 units sold globally in October 2024, marking its fifth consecutive month of growth. To enhance its worldwide delivery capabilities, BYD is also considering manufacturing EVs in Mexico, Brazil, Pakistan, Hungary, and Turkey.
BYD offers a variety of affordable EVs but is also aiming to enter the luxury market segment.
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