BYD Commences Construction on $32 Million EV Plant in Cambodia

On April 28, 2025, BYD officially started construction on a $32 million EV plant in Cambodia’s Sihanoukville zone, marking its global expansion. The facility, expected to be finished by October 2025, will produce both battery and plug-in hybrid electric vehicles with an annual capacity of 10,000. BYD aims to capitalize on rising exports and has outpaced Tesla in several markets.

On April 28, 2025, BYD, the Chinese automaker, officially commenced construction on Cambodia’s first new energy vehicle (NEV) manufacturing facility. This $32 million investment, situated in the Sihanoukville Special Economic Zone, represents a strategic move by BYD to localize production in alignment with its ongoing global expansion efforts. The company has gained significant traction, becoming a leading EV brand across various regions, including Brazil and the UK.

The plant is anticipated to be completed by October 2025. Initial production is set to begin in the fourth quarter of the year, with an expected annual output capacity of 10,000 units. BYD plans to manufacture both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) at this facility, further solidifying its position in the growing EV market.

This new plant is just one part of BYD’s wider strategy, as the company has been busy establishing assembly plants around the globe. Reports indicate that BYD’s overseas NEV exports hit a notable 433,000 units in 2024 and could soar to one million by the end of 2025, with the company’s overseas revenue climbing significantly from $12.5 billion in 2022 to $30.5 billion in 2024.

BYD’s robust growth is supported by its international footprint, with additional production facilities currently being developed in Hungary, Turkey, Thailand, Indonesia, Brazil, and Uzbekistan. This effort aims to bolster the company’s capacity for meeting rising export demand and securing its competitive advantage in the international automotive landscape.

Interestingly, BYD has reportedly outpaced Tesla in sales within several countries, including Australia, Italy, and the UK. This development indicates a growing competitiveness for BYD against Tesla, especially in these key international markets. However, no further commentary was provided regarding Tesla’s specific performance in relation to BYD’s rise.

In summary, BYD’s groundbreaking for its electric vehicle plant in Cambodia highlights the company’s ambitious global expansion strategy. The facility, set to be operational by late 2025, will significantly contribute to BYD’s increasing production capacity and ongoing success in international markets. With anticipated exports reaching one million units by next year, BYD positions itself as a formidable competitor in the global electric vehicle landscape, increasingly challenging established brands such as Tesla. This strategic move not only localizes production to meet rising demands but also underscores BYD’s commitment to sustainability and innovation in the automotive sector. The rapid growth of BYD serves as a testament to the shifting dynamics within the electric vehicle market, where competition continues to heat up.

Original Source: www.caixinglobal.com