BYD Breaks Ground on Significant EV Production Plant in Cambodia

BYD has begun construction of a $32 million electric vehicle plant in Cambodia, expected to be completed by October 2025. The plant will produce 10,000 units annually, including battery and plug-in hybrid vehicles. This initiative is part of BYD’s larger global expansion strategy, which has seen significant growth in overseas sales and revenue.

BYD, the Chinese automotive giant, recently held a groundbreaking ceremony for its new electric vehicle (EV) plant in Sihanoukville, Cambodia, on April 28, 2025. This facility, part of BYD’s strategic global expansion, represents a significant investment of $32 million. This will be the first new energy vehicle production base in Cambodia, demonstrating BYD’s commitment to localizing production as it seeks to further penetrate international markets.

The new plant is scheduled for completion by October 2025, with production expected to commence in the fourth quarter of that year. The facility will have an annual production capacity of approximately 10,000 units, manufacturing both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). This development is part of BYD’s robust growth strategy that has seen the company establish a strong foothold in various markets, including Brazil and the UK.

To put this in perspective, BYD’s overseas exports of new energy vehicles reached 433,000 units in 2024. Projections indicate that this number could soar to 1 million in 2025, suggesting a rapidly expanding global presence. The company has reported a remarkable increase in overseas revenue, which jumped from $12.5 billion in 2022 to an impressive $30.5 billion in 2024, underscoring its robust performance in the export sector.

Beyond Cambodia, BYD is in the process of establishing additional production facilities in several countries, including Hungary, Turkey, Thailand, Indonesia, Brazil, and Uzbekistan. This expansion effort is in response to the increasing global demand for electric vehicles and aims to ensure that BYD meets this demand head-on, boosting its export capabilities significantly.

Moreover, BYD’s aggressive push into international markets has positioned it as a leader in the sales of new energy vehicles across various regions, surpassing competitors such as Tesla in key countries, including Australia, Italy, and the UK. These achievements highlight BYD’s strategic efforts to enhance its competitiveness within the global automotive industry, as the company continues its ambitious plans to lead in the EV space.

In summary, BYD’s groundbreaking of its new EV plant in Cambodia is a crucial step toward bolstering its global production capacity. With an investment of $32 million, the facility is set to enhance local manufacturing capabilities while aiming for a staggering increase in export volumes. As BYD continues to expand its operations worldwide, it positions itself strongly against competitors like Tesla, reflecting its growing dominance in the global EV market.

Original Source: www.caixinglobal.com