Chinese Companies Such as BYD and Changan Automobile Enters Thailand

Chinese companies entering Thailand are increasing rapidly. In addition to large car companies such as BYD and Changan Automobile, home appliance and electronic component companies are also establishing bases.

In terms of foreign direct investment (FDI) applications in Thailand in 2024, China accounts for 174.6 billion Thai baht, an increase of 10% compared to the previous year. The number of work permits issued to Chinese nationals reached 40,000 in 2024, surpassing those issued to Japanese nationals, and new Chinatowns are beginning to form.

Chinese companies have been entering various eastern regions of Thailand including Rayong Province and Chon Buri where the BYD factory is located. Apart from BYD, other Chinese enterprises entering the Eastern Economic Corridor (EEC) include Changan Automobile, Guangzhou Automobile Group, MG (Morris Garages) under SAIC Motor Corporation Limited, and Great Wall Motors among others.

In July 2024, the BYD Thailand factory was put into operation and the ceremony for the production of 8 million new energy vehicles by BYD was successfully held. This is the company’s first electric vehicle factory in Southeast Asia. Wang Chuanfu revealed that BYD officially entered the Thai market in 2022, and currently holds a remarkable 41% share in the Thai new energy market, with one out of every three cars sold being a BYD.

At the 2024 Thailand International Auto Show which closed in December last year, Toyota ranked first with 8297 units booked, followed closely by BYD with 7042 units. GAC AION and SAIC MG also made it to the top five, with bookings exceeding 3000 units each.

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