China’s BYD to sign land deal to build EV plant in Thailand

(Bloomberg filepix)

(Bloomberg filepix)

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BANGKOK (Sept 6): Chinese electric carmaker BYD Co will sign a land purchase deal on Thursday with WHA Corp, Thailand’s largest industrial-estates developer, to build its first electric vehicle production plant in Southeast Asia.

BYD plans to build the plant in Rayong, a province in Thailand’s industrial east, according to a media invite to the signing ceremony.

The company plans to invest about 30 billion baht in production of electric vehicles, Thailand’s Eastern Economic Corridor Office said last month.

The Chinese EV maker will start selling vehicles in Thailand later this year, after signing a partnership last month with local distributor Rever Automotive Co.