BYD Breaks Ground on $32 Million EV Plant in Cambodia as Global Expansion Continues

BYD has broken ground on a $32 million electric vehicle plant in Cambodia. Set for completion by October 2025, the facility will produce up to 10,000 units annually. This highlights BYD’s global expansion efforts, anticipating robust export growth from 433,000 units in 2024 to 1 million in 2025 while competing strongly against Tesla in several regions.

On April 28, 2025, BYD, the notable Chinese automaker, held a groundbreaking ceremony for its new electric vehicle (EV) plant in Sihanoukville, Cambodia. This plant represents a $32 million investment and marks Cambodia’s first foray into new energy vehicle production. The move is part of BYD’s larger strategy to localize production as it expands globally, following a notable rise in its status as a leading EV brand across various markets, including Brazil and the UK.

Expected to commence operations in the fourth quarter of 2025, the facility will have the capacity to produce up to 10,000 vehicles annually. This factory will manufacture both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). The establishment of this plant underscores BYD’s commitment to enhancing its manufacturing capabilities and catering to the rising demand for electric vehicles in Southeast Asia.

BYD has already seen impressive growth in exports, with overseas NEV exports reaching 433,000 units in 2024. The company has ambitious plans to further increase this number to around 1 million vehicles in 2025. This surge in production is supported by BYD’s strategic expansion efforts, which include the establishment of new plants not only in Cambodia but also in Hungary, Turkey, Thailand, Indonesia, Brazil, and Uzbekistan, aimed at bolstering their global footprint and addressing export needs.

The meteoric rise in BYD’s overseas revenue is indicative of its successful strategy, growing from $12.5 billion in 2022 to $30.5 billion in 2024. The company’s ability to compete against established players like Tesla has been notable, as BYD has outperformed Tesla in vehicle sales in regions such as Australia, Italy, and the UK. This performance highlights the rapidly shifting dynamics in the global automotive industry, where competition is intensifying among EV manufacturers.

In summary, BYD’s new venture in Cambodia exemplifies its aggressive global expansion tactics, revealing a strategic response to the surging international demand for electric vehicles. With significant investments and an expanding production capacity, BYD seems poised to forge ahead in the electric vehicle market, intensifying competition with rivals like Tesla and solidifying its position as a leader in the EV sector.

In conclusion, BYD’s establishment of an EV plant in Cambodia is a strategic move towards global expansion, with plans to significantly boost production capacity. The company has demonstrated its growing competitiveness in international markets and aims to reach significant export targets by 2025. With an increasing number of overseas plants and steady revenue growth, BYD positions itself as a formidable contender in the electric vehicle industry, challenging established rivals and exploring new opportunities.

Original Source: www.caixinglobal.com