Chinese electric vehicle giant BYD reportedly plans to establish a production plant in the Philippines. However, the company would base its final decision on the government’s offer of subsidies and tax exemptions.
The announcement came from BYD’s local managing director James Ng. He disclosed to reporters that the automaker is still assessing the possibility of erecting a domestic factory in the Asian country.
BYD-AC Motors partnership
Mr. Ng further emphasized that the world’s biggest EV maker aims to prioritize its recently signed partnership with Ayala Group’s AC Motors.
“We have no plans at the moment but we are exploring.”
James Ng, Managing Director of BYD Philippines and Singapore
As EV-a2z previously reported, AC Motors aims to launch 12 domestic BYD dealerships in the following year.
AC Motors President Antonio Zara III also announced that the company would erect dealerships across Metro Manila, Visayas, and Mindanao.
“We are also receiving applicants for Metro Cebu, Cagayan de Oro, and Davao.”
James Ng, Managing Director of BYD Philippines and Singapore
The Philippine-based company will sell BYD’s famous EV models, including Han, Tang, and Dolphin. It also aims to sell the BYD Atto 3 by the end of 2023.
BYD overthrows Tesla
BYD successfully snatched Tesla’s “world’s largest EV maker” title. Its recent financial report revealed that its 2022 net profit reached a whopping $2.4 billion.
That said, BYD can aid AC Motors in fulfilling its forecast of having EVs account for 10% to 20% of all new vehicle sales in the country. Of that total, the company aims to contribute a large portion through BYD models.
Apart from the distributorship with BYD, AC Motors also aims to improve the EV ecosystem by developing charging infrastructures. By doing so, it can address customers’ top concerns regarding EVs, range anxiety,
See Also:
- AC Motors partners with BYD to launch EVs in the Philippines
- BYD plans to produce EVs in Vietnam in SE Asia push
- Three Southeast Asian countries are competing for China’s BYD plant
- Tesla vehicles finally arrive in the Philippine market thanks to an EV importer
- Changan to develop a new EV production plant in Thailand
BYD’s potential EV factory in the Philippines will undoubtedly boost the country’s economy. It will further promote the switch to more sustainable mobility. Moreover, it can also enable the Chinese automaker to tap into a new market that can potentially raise its sales and delivery figures in the coming years.
