Sat. Sep 23rd, 2023
    BYD Partners With Key Conglomerates for Expansion in Southeast Asia’s EV Market

    Chinese electric vehicle (EV) frontrunner BYD has emerged as a leading player in Southeast Asia’s fast-growing EV market, thanks in part to its strategic partnerships with major local conglomerates. Let’s take a closer look at some of BYD’s regional partners and their distribution efforts:

    1. Malaysia & Singapore: BYD cars are sold by Sime Darby Motors, the automotive arm of Malaysian trading and logistics giant Sime Darby. The partnership began in 2019 when Sime Darby Motors started distributing BYD EVs in Singapore, where it currently operates seven outlets. In 2022, the distributorship expanded to Malaysia, and Sime Darby Motors now has nine dealerships nationwide, with more in the pipeline.

    2. Thailand: Rever Automotive is BYD’s distribution and after-sales partner in Thailand, the Chinese automaker’s largest overseas market. Rever Automotive, led by executives from conglomerate Siam Motors Group, has invested over $83.89 million to elevate BYD’s position in Thailand’s auto market. The company currently operates 62 dealer locations across Thailand.

    3. The Philippines: AC Motors, a subsidiary of Filipino conglomerate Ayala Corp, has recently formed a distribution partnership with BYD. AC Motors, which also sells Japanese and European brands, plans to establish a dozen BYD dealerships across the Philippines in the next year to foster the growth of the country’s EV market.

    4. Indonesia: Bakrie & Brothers, a major player in manufacturing and infrastructure in Indonesia, serves as BYD’s EV bus distributor in the country. Since 2018, BYD and VKTR, a unit of Bakrie & Brothers, have supplied 52 EV buses to the local government in Jakarta. VKTR is currently in discussions with various Indonesian firms for commercial orders of BYD buses, with no immediate plans for entering the passenger car segment.

    These partnerships have formed a strong foundation for BYD’s expansion in Southeast Asia’s EV market. With a focus on collaboration and localized distribution, BYD and its partners are driving the adoption of electric vehicles in the region.

    – Reuters