BYD, the leading Chinese electric vehicle manufacturer, is making significant progress in Southeast Asia’s burgeoning EV market through strategic partnerships with local conglomerates. These partnerships have enabled BYD to establish a strong presence and gain an early advantage in the region’s growing EV industry.
In Malaysia and Singapore, BYD vehicles are sold by Sime Darby Motors, the automotive division of Malaysian trading and logistics giant Sime Darby. This partnership has been in place since 2019, with Sime Darby Motors initially distributing BYD EVs in Singapore and later expanding to Malaysia. Currently, Sime Darby Motors operates seven outlets in Singapore and has nine dealerships in Malaysia, with plans for additional locations in the near future.
Thailand represents BYD’s largest overseas market, and its distribution and after-sales partner in the country is Rever Automotive. Rever, led by the CEO and vice CEO from the family controlling local conglomerate Siam Motors Group, has made significant investments to support BYD’s growth in Thailand. Rever currently has 62 dealer locations across the country selling BYD vehicles and aims to position BYD as a key player in Thailand’s auto market.
In the Philippines, AC Motors, a subsidiary of Filipino conglomerate Ayala Corp, recently announced a distribution partnership with BYD. AC Motors plans to establish twelve BYD dealerships across the country over the next year, capitalizing on reduced tariffs and aiming to promote the adoption of electric vehicles in the Philippines.
Indonesian conglomerate Bakrie & Brothers, focused on manufacturing and infrastructure, serves as BYD’s EV bus distributor in Southeast Asia’s largest economy. The partnership between BYD and VKTR, a subsidiary of Bakrie & Brothers, began in 2018 and has already resulted in the delivery of 52 EV buses to the local government in Jakarta. VKTR is currently exploring multiple commercial orders for BYD buses in Indonesia, with no immediate plans to enter the passenger car segment.
These strategic partnerships have played a crucial role in BYD’s success in Southeast Asia’s EV market, allowing the company to tap into the substantial growth potential of the region. As the demand for electric vehicles continues to rise in Southeast Asia, BYD’s partnerships provide a solid foundation for expanding its market share and establishing itself as a leader in the region.
Sources:
– Reuters article (no URL provided)