BYD is considering setting up an EV plant in Mexico as it seeks to establish an export hub to the US, Nikkei reported.
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Category: BYD Plant
BYD plans to have the Hungarian plant, which will produce passenger car models for sale in Europe, up and running within three years.
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Shenzhen-based UBTech, a maker of humanoid robots and smart service robots, made its debut on the Hong Kong stock market today with a market capitalization of HK$38 billion.
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BYD will build an NEV production facility in the Hungarian city of Szeged, which will be constructed in phases and is expected to create thousands of local jobs.
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BYD plans to build a new factory to produce EVs and batteries in Szeged, southern Hungary, according to the Financial Times.
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The Seagull, the least expensive model under the BYD umbrella, sold 43,350 units in October, making it the second-highest selling BYD model.
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Indian officials raised security concerns about Chinese investment in India during deliberations, according to a report in the local Economic Times.
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If BYD sets up a power battery assembly plant in Hungary, it will give a boost to supplies to Tesla's Berlin factory, local media said.
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Currently in production is the first phase of BYD's Zhengzhou base, with a planned annual capacity of 400,000 vehicles. | BYDDY.US | BYD HK
BYD (OTCMKTS: BYDDY) has officially started production at a new vehicle production site that begins contributing to the capacity of China's largest maker of new energy vehicles (NEVs).
The production site, located in Zhengzhou, Henan province in central China, saw its first production vehicle roll off the line on April 6, according to a report by a local TV station.
The project was signed in September 2021 and took 17 months to complete construction and go into production.
Currently in production is the first phase of the Zhengzhou base, which covers an area of 4,101 mu (2.7 square kilometers) and has a planned annual production capacity of 400,000 vehicles.
The production base will have phase II and phase III projects, and the total production capacity will exceed 1 million units after completion.
The first mass-produced vehicle to roll off the line from BYD's Zhengzhou base is a Song Pro DM-i, which has a guide price range of RMB 140,800 ($20,480) - 165,800 yuan.
Officials from the Henan provincial government, as well as BYD chairman and president Wang Chuanfu, attended the ceremony to mark the start of production at the facility.
The production base is expected to help BYD achieve its goal of selling at least 3 million vehicles this year. Wang has apologized several times over the past two years for the long wait times for BYD vehicles due to a lack of capacity.
BYD aims to sell at least 3 million vehicles this year and will strive to reach 3.6 million, Wang said at an investor conference on March 29.
For the 3.6 million sales target BYD is aiming to reach, 2.8 million in China and 800,000 overseas, Yicai said in a March 30 report citing an insider at the company.
BYD sold 1,868,543 vehicles in 2022, including 1,863,494 NEVs. The company stopped production and sales of vehicles powered entirely by internal combustion engines in March 2022.
If it can reach 3.6 million vehicles in global sales, BYD is expected to be among the top 10 car companies in global auto sales this year.
BYD aims to become China's No. 1 automaker by the end of this year, Wang said at the investor conference.
BYD sold 207,080 NEVs in March, up 97.45 percent from 104,878 units a year earlier and up 6.93 percent from 193,655 units in February, according to data released by the company earlier this month.
In the first quarter, BYD's NEV sales were 552,076 units, up 92.81 percent from 286,329 units in the same period last year, but down 19.22 percent from 683,440 units in the fourth quarter last year.
($1 = RMB 6.8752)
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On March 10, BYD held a groundbreaking ceremony for the plant in Thailand, and the delivery ceremony for the 10,000th BYD Atto 3.
BYDDY.US | BYD HK
BYD began construction of its passenger car plant in Thailand, as it reaches a milestone in deliveries there.
On March 10, BYD held a groundbreaking ceremony for the plant in Thailand, as well as a delivery ceremony for the 9,999th and 10,000th BYD Atto 3, according to a press release.
The establishment of a passenger car production base in Thailand is one of BYD's key initiatives to accelerate its expansion into the Asia-Pacific market, said Liu Xueliang, general manager of the company's Asia-Pacific automotive sales division.
The production base project is located at WHA Rayong 36 Industrial Estate and covers an area of nearly 960,000 square meters.
The plant is expected to start production in 2024 with an annual capacity of about 150,000 vehicles.
On September 8, 2022, BYD signed a land purchase agreement with Thai industrial property developer WHA Industrial Development PLC, a subsidiary of the WHA Group, to build a passenger car production plant.
The land agreement follows a set of investment commitments approved by Thailand's Board of Investment in August, including BYD's 17.9 billion baht ($491 million) electric vehicle production project.
On October 10, BYD, together with its local partner Rêver Automotive, launched the Atto 3 in Thailand, with sales of the model officially starting in November.
BYD held a delivery ceremony on March 10 for the 9,999th and 10,000th Atto 3, its first electric SUV based on the e-Platform 3.0 platform offered in Thailand.
Notably, the deliveries appear to be wholesale sales, that is, sales delivered to local dealers.
By the end of January, the Atto 3 had 1,352 registrations in Thailand, accounting for 8 percent of the 16,672 registrations of all pure electric vehicles in the country, according to BYD.
By the end of February, 3,000 BYD Atto 3 units were registered in Thailand, according to the company.
In addition to BYD, another Chinese electric vehicle company, Neta, began construction of a plant in Thailand on March 10, although it is smaller, with an annual capacity of 20,000 units.
BYD F brand to use new powertrain, targeting market with price above RMB 400,000
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