Tesla began operations in Thailand in February, and the automaker enjoyed a successful first month of sales there. BYD maintained its leadership position in the electric vehicle market in Thailand with the help of its flagship ATTO 3 model.
In February, BYD had 2,078 electric vehicles registered, equaling 37.8 percent of the total number of EVs registered.
Tesla, Thailand’s newbie in the EV market
Tesla is the most recent company to enter the electric vehicle industry in Thailand, and they are rapidly making headway.
The automaker began sales in Thailand towards the middle of February but finished in fourth place with 709 vehicles registered. It was sufficient to take 12.9 percent of the total EV market share.
The Model Y accounted for the vast bulk of those sales (534), while the Model 3 came in second place with 175 deals.
According to CarNewsChina, the top 10 EVs were registered in Thailand in February.
Thailand’s EV market is growing
BYD will likely continue to hold the lead in Thailand for the time being.
BYD is making significant investments in the country and has just started construction on its production site in Thailand.
Drive Tesla Canada reports that this factory, the first foreign manufacturing facility for the company, will function as BYD’s distribution center for Thailand and the countries located near Thailand.
Another Chinese-owned EV maker, NETA, will finish building its production factory in Bangkok in January 2024.
At the very least, Thailand’s EV market is showing signs of heating up heading into the remainder of 2023, with both Chinese and American automakers fighting in this new sector.
| Model | Total Registrations | Total Market Share by percentage |
|---|---|---|
| BYD ATTO 3 | 2,068 | 37.6 |
| NETA V | 1,254 | 22.8 |
| Tesla Model Y | 534 | 9.7 |
| MG EP | 356 | 6.5 |
| MG 4 Electric | 318 | 5.8 |
| ORA Good Cat | 282 | 5.1 |
| MG ZS EV | 241 | 4.4 |
| Tesla Model 3 | 175 | 3.2 |
| Volvo XC40 | 76 | 1.4 |
| BMW iX3 | 42 | 0.8 |
See Also:
- BYD signs three-year agreement to produce 5,000 EVs for UK car rental company Octopus EV
- BYD is developing an all-electric ute
- BYD purchasing Ford factories shows EV shift and overcapacity
- BYD’s mysterious new brand, labeled “F Brand” may target the off-road market
- Three Southeast Asian countries are competing for China’s BYD plant
