BYD Commissions $32 Million EV Plant in Cambodia, Paving Path for…

BYD has begun construction of a $32 million EV factory in Cambodia’s Sihanoukville, aimed for completion by October 2025. The facility will produce both battery and hybrid vehicles, supporting an annual capacity of 10,000 units. This move enhances BYD’s global footprint as the company anticipates reaching 1 million NEV exports in 2025, capitalizing on soaring overseas revenue.

BYD, the Chinese automaker, has officially commenced construction on Cambodia’s very first new energy vehicle (NEV) production base. The groundbreaking ceremony took place on April 28, 2025, in the Sihanoukville Special Economic Zone. This investment, which totals $32 million, is part of BYD’s ongoing efforts to expand its global footprint and strengthen local production capabilities.

The new facility is expected to be operational by October 2025, with production slated to begin in the fourth quarter of the year. It has an annual capacity of up to 10,000 units, and will produce both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). This represents a significant milestone for the Cambodian automotive industry, which is beginning to embrace electric vehicle technology.

BYD’s move into the Cambodian market comes at a time when the company’s exports have seen a substantial increase. In 2024, its overseas NEV exports reached 433,000 units, and forecasts for 2025 suggest they may climb to 1 million. This surge aligns with BYD’s strategic goal to enhance its presence internationally.

The company’s revenues from overseas operations have jumped from $12.5 billion in 2022 to an impressive $30.5 billion in 2024. This growth can largely be attributed to the robust demand for BYD’s electric vehicles in key markets worldwide, with significant sales increases noted in regions such as Brazil and the United Kingdom.

Apart from Cambodia, BYD is actively establishing production plants in various countries, including Hungary, Turkey, Thailand, Indonesia, and Uzbekistan. This series of expansions is driven by the company’s ambition to meet the rising global demand for electric vehicles and support increased exports.

Competitively, BYD has been gaining ground against its main rival, Tesla. Recent sales figures indicate that BYD has surpassed Tesla in markets like Australia, Italy, and Britain, further amplifying its position as a dominant player in the global EV segment. Although the details regarding Tesla were not elaborated upon, this competition reflects a shifting landscape in the automotive industry.

In summary, BYD’s groundbreaking of its electric vehicle plant in Cambodia is a significant development, indicating the company’s commitment to global expansion and localized production. With increasing NEV exports and a spike in overseas revenue, BYD aims to bolster its competitive position against established players like Tesla. The new facility, expected to be fully operational within a year, could play a crucial role in meeting the rising demand for electric vehicles across various international markets.

Original Source: www.caixinglobal.com