Last year, BYD opened its first electric vehicle (EV) factory in Southeast Asia, located in Thailand. The investment amounted to $490 million, with an annual production capacity of 150,000 vehicles, and this is just the beginning.
Zhao Ying, President of BYD Indonesia, stated that the construction of BYD’s Indonesian factory is progressing smoothly and is expected to be completed by the end of 2025.
The factory is part of BYD's strategy to serve export markets, with a total investment of $1 billion. It is located in the industrial park in Subang, West Java. Once completed, it will be capable of producing 150,000 electric vehicles annually.
To stimulate the demand for electric vehicles and attract investments from car manufacturers, the Indonesian government has introduced a temporary import duty exemption policy, which BYD has benefited from. The Indonesian government aims to achieve domestic production of 600,000 electric vehicles by 2030.
According to the Indonesian Automotive Association, 2024 is BYD's first year in the Indonesian market. The company sold 15,429 vehicles in total, capturing approximately 36% of the pure electric vehicle market, securing the top position.
Zhao Ying mentioned that he expects the first batch of vehicles to be produced shortly after the factory is completed. BYD has already launched four models in Indonesia: Seal, Yuan PLUS, Dolphin, and Tang MPV, with the Tang MPV being the best-selling model last year. He also revealed that BYD plans to launch more models this year, with the goal of achieving "rapid growth" in sales by 2025.
