China’s BYD finally launched three electric vehicle models on VinFast’s home turf on Thursday as it seeks to dominate the domestic market. The company plans to expand the lineup to offer six EV models this year, The Star reported.
BYD EVs hit the Vietnamese market
BYD officially launched three of its battery-electric vehicle offerings in the Vietnamese market on Thursday, marking its latest effort to expand its presence in the Southeast Asian markets.
“Vietnam is the last market BYD sets foot in in the Asia-Pacific region and is an important market in this region.”
Vo Minh Luc, BYD Vietnam Chief Operations Officer
The Chinese new energy vehicle (NEV) giant initially introduced the popular Dolphin compact hatchback, Atto 3 compact crossover, and Seal midsize sedan in the local market. It has reportedly opened the pre-order books since June 2024.
As mentioned, BYD plans to introduce three more EVs in the Vietnamese market in October this year. However, it has not yet revealed these models’ identities.
“BYD will continue to introduce three other models in October.”
Vo Minh Luc, BYD Vietnam Chief Operations Officer
Pricing
The BYD Dolphin starts at VND659 million ($26,030). Meanwhile, the Atto 3 starts at VND786 million, according to The Investor.
The BYD Seal’s advanced version reportedly costs VND1.12 billion ($44,240), while the performance version costs VND1.36 billion ($53,720).
BYD offers buyers an enticing gift set for these prices, including one portable charging device, one 1kW wall charger with free installation, and one power converter.
Local expansion plans
Apart from launching a total of six BEV models, BYD also aims to formally inaugurate 13 retail outlets in Vietnam starting July 20, 2024.
From there, the Chinese electric automaker will gradually expand its dealership network in the country to at least 100 in 2026.
However, BYD confirmed that it will import these BEV models in the meantime. In hindsight, the Vietnamese government disclosed BYD’s alleged plans for a local electric vehicle factory in the north of the country. However, the company revealed that the plans have slowed in March. Nonetheless, the negotiations are still ongoing.
“BYD is in talks with a number of localities in Vietnam to optimize the plant plan.”
Vo Minh Luc, BYD Vietnam Chief Operations Officer
However, Luc clarified that BYD currently has no plans to deploy its own charging stations in the country. Instead, it will launch “effective replacement plans” to ensure customers’ convenience and peace of mind when driving.
“BYD always welcomes opportunities to cooperate with businesses in the same industry and partners in building charging stations. In the near future, it will join hands with major charging station partners, which means in addition to the home charging solution that BYD provides, customers can charge their vehicles at public charging stations or at BYD’s dealer systems nationwide.”
Vo Minh Luc, BYD Vietnam Chief Operations Officer
BYD also partnered with three major banks, including BIDV, VPBank, and VietinBank, to offer loan support programs of up to 85% of the overall value with preferential interest rates. It also collaborated with reputable insurance partners to offer exclusive incentives to make its offerings more accessible to local customers.
