Chinese new energy vehicle (NEV) maker BYD has acquired a 20 percent stake in Thai dealer Rever Automotive, further strengthening its position in the Southeast Asian auto market. The share purchase agreement, signed on July 6, aims to enhance the competitiveness of both companies in Thailand’s burgeoning automotive industry.
This strategic move follows BYD’s official entry into Thailand’s passenger car market on August 8, 2022, in a joint announcement with Rever in Bangkok. The partnership has already seen significant milestones, including the opening of BYD’s Thailand factory on July 4, which marked the production of the company’s 8 millionth NEV.
At the July 4 celebration ceremony, Liu Xueliang, general manager of BYD’s Asia-Pacific auto sales division, highlighted the company’s rapid growth in Thailand, where it now operates 115 sales outlets. The newly commissioned factory will bolster BYD’s local sales network, facilitating further expansion.
The collaboration between BYD and Rever will extend beyond passenger cars to include commercial vehicles, according to today’s statement from BYD. This diversification aims to capture a larger share of the market and cater to a broader range of consumer needs.
Models currently produced at BYD’s Thailand plant include the all-electric Dolphin and Seal, as well as the Atto 3, known in China as the Yuan Plus. Rever is responsible for selling these models in Thailand. Additionally, BYD plans to produce plug-in hybrid electric vehicle (PHEV) models at the Thai facility, such as the Sea Lion 6, known in China as the Song Plus DM-i.
Rever Automotive, led by a member of the family that owns the renowned Siam Motors Group, brings decades of industry experience to the partnership. Founded in 1952, Siam Motors Group initially made its mark by importing and selling Nissan vehicles in Thailand.
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