BYD Breaks Ground on $32 Million EV Plant in Cambodia as Global Expansion Accelerates

BYD has begun construction on a $32 million electric vehicle plant in Cambodia, set to be operational by October 2025, producing 10,000 units annually. This initiative is part of BYD’s broader strategy to expand its global presence, with ambitions to export one million vehicles in 2025 and competition against Tesla intensifying.

On April 28, 2025, BYD celebrated the groundbreaking of its first electric vehicle (EV) production facility in Cambodia, located in the Sihanoukville Special Economic Zone. This substantial investment, totaling $32 million, underscores the company’s commitment to local production in response to its rising global demand. BYD has emerged as a leading brand in the electric vehicle sector, witnessing significant growth in several international markets, including Brazil and the United Kingdom.

The Cambodian facility is slated for completion by October 2025. Once operational, it will have an annual capacity to produce 10,000 units, focusing on both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). This move is part of BYD’s strategy to enhance its global supply chain and production capabilities, catering to both local and export markets.

In 2024, BYD exported approximately 433,000 new energy vehicles (NEVs), and projections indicate that this number could soar to one million by 2025. These impressive figures are complemented by a substantial increase in overseas revenue, which jumped from $12.5 billion in 2022 to $30.5 billion in 2024. Analysts attribute BYD’s success to its aggressive expansion and innovative logistics solutions.

The company’s international growth journey has also led to the establishment or announcement of new production plants across various countries, including Hungary, Turkey, Thailand, Indonesia, Brazil, and Uzbekistan. This expansion initiative aims to support the increasing global export demand and ensures that BYD remains competitive in the ever-growing EV market.

Interestingly, BYD has managed to eclipse Tesla in sales across certain regions, like Australia, Italy, and Britain. This rapidly evolving competition reflects BYD’s effective strategies and the increasing acceptance of electric vehicles worldwide. Despite being a relatively newer player on the global stage, BYD’s trajectory paints a promising future as it continues to innovate and expand its footprint beyond China.

Overall, the establishment of the Cambodian EV plant marks a crucial step for BYD as it aims to bolster its production capabilities and further solidify its position in the international electric vehicle market, ultimately contributing to its ambitious goal of becoming a household name in EV manufacturing.

In summary, BYD’s new facility in Cambodia represents a significant milestone in the company’s global expansion strategy. The $32 million investment will enhance local production capabilities and help meet increasing international demand for electric vehicles. As BYD aims for one million NEV exports in 2025, its competitiveness against established players like Tesla underscores the rapidly evolving automotive landscape.

Original Source: www.caixinglobal.com