BYD Breaks Ground on $32 Million EV Plant in Cambodia Amid Global Expansion
BYD has launched construction on a $32 million electric vehicle plant in Cambodia, expected to open by October 2025 with a production capacity of 10,000 units annually. This facility is part of BYD’s broader global expansion strategy, with exports hitting 433,000 units in 2024 and set to reach one million in 2025. The company has increased revenues significantly, driven by strong international sales.
On April 28, 2025, BYD, a leading Chinese automaker, officially commenced construction on its first electric vehicle (EV) production facility in Cambodia, located in the Sihanoukville Special Economic Zone. The $32 million investment signals BYD’s commitment to expanding its global presence. The plant is anticipated to be operational by October 2025, with production expected to kick off in the fourth quarter of the same year.
The new facility will have the capacity to produce 10,000 electric vehicles annually, focusing on both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). This move aligns with BYD’s objective to localize production in key markets, further enhancing its production capacity worldwide.
BYD’s international expansion strategy appears to be paying off. The company achieved a staggering 433,000 new energy vehicle (NEV) exports in 2024 and is on track to reach a projected one million units in 2025. Revenues from overseas sales have increased significantly, jumping from $12.5 billion in 2022 to an astounding $30.5 billion in 2024.
In addition to Cambodia, BYD is establishing or operationalizing new EV plants in various countries, including Hungary, Turkey, Thailand, Indonesia, Brazil, and Uzbekistan. This strategy aims at bolstering its export capacity and meeting the growing global demand for EVs. BYD has even surpassed Tesla in sales in several notable markets, such as Brazil and the UK, reflecting its increasing competitiveness on the international stage.
Moreover, recent reports indicate that BYD has outperformed Tesla in sales figures in markets like Australia and Italy. This growing competitive edge suggests that BYD is rapidly establishing itself as a formidable player in the EV industry, challenging established leaders like Tesla across various global regions.
BYD’s groundbreaking ceremony in Cambodia marks a significant step in its global expansion efforts and reflects the company’s strategy to localize production. The new $32 million plant, which is set to begin operations by late 2025, represents BYD’s aim to boost its production capabilities for electric vehicles. As BYD continues to increase its export figures and expand into new markets, it is becoming a dominant force, outperforming rivals like Tesla in select regions.
Original Source: www.caixinglobal.com
