Expansion push in Indonesia
BYD has just intensified its expansion efforts in Indonesia with the launch of three new electric vehicle models on January 18, 2024.
The mix includes the popular BYD Dolphin, Seal, and Atto 3 (also known as Yuan Plus). It is a crucial part of the Chinese automaker’s efforts to dominate Southeast Asia’s largest economy as it currently leads in China.
“Of course in Indonesia we also should have such kind of very aggressive target.”
BYD Indonesia President Eagle Zhao
Indonesia has a strong potential to advance in the global electric vehicle industry, owing to the government’s supportive policies and the abundance of nickel. Notably, nickel is a crucial material in the production of electric vehicle batteries.
That said, it is unsurprising that many foreign brands got interested in expanding to the local market. For instance, China’s Wuling Motors and South Korea’s Hyundai Motor dominated the BEV segment last year with their Air EV and Ioniq 5 models.
In addition, BYD has already tested demand in Indonesia with its electric buses and taxi fleets through local partners.
BYD’s electrification progress
Apart from the new model launches, BYD also plans to invest $1.3 billion in new factory development with an expected production output of 150,000 units per year. President Zhao further noted that BYD aims to start construction at the new factory later in 2024, with more plans to complete a sales network of 50 outlets nationwide.