A major Chinese carmaker struck a deal Thursday to build an electric vehicle plant in Thailand, according to the local property developer, its first factory in Southeast Asia.

BYD, one of the most prominent Chinese brands in the electric vehicle market, will buy a 96-hectare plot to house the facility, from Thai property developer WHA Group.

The site -- about 140 kilometres southeast of Bangkok -- will eventually be able to produce up to 150,000 vehicles a year and is expected to be operational by 2024, WHA said in a statement.

The cars will be destined mainly for the Southeast Asian and European markets, it added.

China's electric car market is crowded, with many local manufacturers vying for market share, buoyed by generous subsidies.

Chinese manufacturers are now looking to build an overseas presence.

BYD got a foothold in the European market by setting up shop in Norway before expanding to neighbouring countries.

The brand, known in Europe for its electric buses, now has operations in Hungary and France.

Originally specialising in battery production, BYD moved into the automotive sector in 2003 and has since become a heavyweight in electric vehicle production.

The firm stopped producing petrol-powered cars in April, saying it would only produce hybrid and electric models in future.

sbr/mca/leg

BYD COMPANY

Related Links
Car Technology at SpaceMart.com

Tweet

Thanks for being here; We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor $5 Billed Once credit card or paypal		SpaceMediaNetwork Monthly Supporter $5 Billed Monthly paypal only

End of the road for New York's horse-drawn carriages
New York (AFP) Sept 1, 2022
A charming, must-do tourist attraction or a cruel, outdated commercial activity? New York's horse-drawn carriages have operated since the 1800s, but lawmakers now want to replace them with electric vehicles. For some, the equine-driven rides around Central Park are part of the fabric of the Big Apple, like yellow taxis and Broadway shows. But for others, the horses-for-hire are not in keeping with the ethos of a leading progressive city in 21st century America. "Manhattan is probably the wor ... read more