BANGKOK — BYD, China’s top electric vehicle producer, will make Thailand its first production hub in Southeast Asia, a move likely to challenge existing Chinese brands in the kingdom poised to capitalize on an expected, government-aided surge in demand.
According to an official at Thailand’s Board of Investment, BYD is to invest a total of 17.9 billion baht ($488 million) in Rayong province, where it is said to have purchased 700 rai (112 hectares).