BYD Launches Cambodia Electric Vehicle Plant to Boost Global Growth
BYD has initiated construction of a $32 million electric vehicle plant in Cambodia, aiming for completion by October 2025, with an annual capacity of 10,000 units for both battery and plug-in hybrid EVs. This expansion is part of BYD’s global strategy to increase production and compete with major brands like Tesla.
On April 28, 2025, BYD, a leading Chinese electric vehicle (EV) manufacturer, officially broke ground on its new plant in Cambodia. This $32 million investment represents a significant step in BYD’s strategy to boost localized production while expanding its global footprint. Located in the Sihanoukville Special Economic Zone, the facility is set to ramp up production by late 2025.
The new production base will have an annual capacity of 10,000 units, which means it will manufacture not only battery electric vehicles but also plug-in hybrid models. This is crucial as the demand for electric mobility continues to surge worldwide. BYD’s efforts in Cambodia come as part of a broader expansion plan aimed at reinforcing its presence in several international markets.
BYD’s ambitious drive doesn’t stop at Cambodia. The automaker aims to solidify its position as a top-selling EV brand across the globe. Recent reports indicate that BYD’s overseas NEV exports skyrocketed to 433,000 units in 2024, with expectations to reach as many as 1 million in 2025. This surge seems aligned with a rapid growth in their overseas revenue—jumping from $12.5 billion in 2022 to a staggering $30.5 billion in 2024.
The ongoing competitiveness of BYD against other industry giants like Tesla should not be overlooked. In various markets, including the UK and Brazil, BYD has outpaced Tesla, showcasing its growing influence and appeal among consumers. The company continues investing heavily in plants in multiple countries such as Hungary, Turkey, Thailand, Indonesia, Brazil, and Uzbekistan to meet increasing demand for EVs and expand its logistics capabilities.
As this ambitious project in Cambodia illustrates, BYD is not just a player; they’re vying for the top position in the EV market on a global scale. The focus now is not only on meeting current market demands but also preparing for an even more electric future.
In summary, BYD’s groundbreaking ceremony for its new EV plant in Cambodia marks a key step in their global expansion strategy. With significant investments and ambitious production goals, the company aims to solidify its dominant position in the international EV market. Their drive to outperform competitors like Tesla while significantly increasing exports is indicative of their robust growth trajectory going forward.
Original Source: www.caixinglobal.com
