Chinese electric vehicle (EV) manufacturer BYD has gained an early lead in Southeast Asia’s rapidly growing EV market, thanks in part to strategic partnerships with regional conglomerates. Let’s take a closer look at some of BYD’s regional partners and their contributions.
In Malaysia and Singapore, BYD cars are distributed by Sime Darby Motors, the automotive arm of Malaysian trading and logistics giant Sime Darby. The partnership began in 2019 with the distribution of BYD EVs in Singapore. Sime Darby Motors now operates a network of seven dealerships in the city-state. Recently, the company expanded its distributorship to cover Malaysia, with nine dealerships already in operation and plans for 12 more in the pipeline.
BYD’s largest overseas market in Southeast Asia is Thailand, where Rever Automotive serves as the distribution and after-sales partner. Rever Automotive, whose executives come from the family controlling the local conglomerate Siam Motors Group, has invested over $83.89 million to position BYD in the top tier of Thailand’s auto market. Currently, they have a network of 62 dealer locations across Thailand selling BYD cars.
In the Philippines, AC Motors, a subsidiary of Filipino conglomerate Ayala Corp, has teamed up with BYD for distribution. AC Motors plans to establish 12 BYD dealerships across the country within the next year, leveraging a reduction in tariffs to propel the growth of the EV market in the Philippines.
Indonesia’s Bakrie & Brothers, a conglomerate focused on manufacturing and infrastructure, is the distributor for BYD’s EV buses in the country. The partnership between BYD and VKTR, a unit of Bakrie & Brothers, began in 2018 and has already delivered 52 EV buses to the local government in Jakarta. VKTR is currently in talks with multiple Indonesian firms for commercial orders of BYD buses.
As BYD expands its presence in Southeast Asia’s EV market, these distribution partnerships with local conglomerates provide valuable access to the region’s consumers and enhance BYD’s brand visibility. By leveraging the expertise and resources of their partners, BYD is well-positioned to tap into the increasing demand for electric mobility solutions in the region.
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– Compiled by Devjyot Ghoshal in Bangkok; Editing by Jamie Freed