Published 08:14 IST, July 7th 2024
China's BYD acquires 20% stake in Thai dealer Rever Automotive
Rever Automotive, which began selling BYD vehicles in 2022, has rapidly expanded to operate over 100 showrooms across Thailand.

BYD Thailand factory: China's leading electric vehicle (EV) manufacturer, BYD, has announced the acquisition of a 20 per cent stake in its local distributor, Rever Automotive, in Thailand. This strategic move underscores Thailand's importance as BYD's largest market outside of China, where the company holds a dominant position in the EV sector.
This week, BYD inaugurated its first factory in Southeast Asia, located in Thailand. The $490 million facility boasts an annual production capacity of 150,000 vehicles and is expected to create 10,000 jobs, further cementing BYD's commitment to the region.
Rever Automotive, which began selling BYD vehicles in 2022, has rapidly expanded to operate over 100 showrooms across Thailand. Since its launch, BYD has become the top-selling EV brand in the country.
"We are thrilled to deepen our partnership to accelerate the adoption of electric vehicles and contribute to Thailand's transition towards a more sustainable future," stated Liu Xueliang, BYD's Asia-Pacific auto sales general manager.
Thailand serves as a significant regional hub for auto assembly and export, traditionally dominated by Japanese manufacturers such as Toyota, Honda, and Isuzu. However, BYD's market presence is growing rapidly. In the first quarter of 2024, BYD captured a 46 per cent share of Thailand's EV market and emerged as the third-largest player in the passenger car segment, according to Counterpoint, a research firm.
The acquisition of a stake in Rever Automotive occurs amid a backdrop of challenges for the Thai dealer, including a government investigation into allegations of excessive discounts that have led to customer dissatisfaction over perceived overpayment for their vehicles.
BYD's latest investment highlights its strategic focus on expanding its footprint in Southeast Asia and driving the adoption of electric vehicles in Thailand.
(With Reuters inputs.)
Updated 14:24 IST, July 10th 2024