China’s BYD has emerged as Thailand’s top-selling pure electric vehicle (EV) brand in January 2023, with its ATTO 3 model delivering 1,040 units, according to the country’s latest insurance registration records. The company’s successful performance in Thailand is due to its large-scale exports of the model, with over 10,000 units shipped so far.
The ATTO 3’s popularity in Thailand was evident in November 2022 when BYD launched pre-sales of the model, which resulted in 10,500 orders being placed in just 42 days. Despite exceeding BYD’s expectations, high demand caused temporary delivery difficulties, leading the company to temporarily suspend reservations. However, one month later, the company resumed ATTO 3 reservations and increased supply to the Thai market.
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The official selling price of the ATTO 3 in Thailand is 1.2 million Baht ($35,400 USD), significantly higher than the price in China and Europe, where the same model costs 139,800 RMB ($20,300 USD) and 38,000 EUR ($40,500 USD), respectively.
Interestingly, according to the same data, the top eight pure EVs sold in Thailand in January were all from Chinese companies, including NETA V and ORA Good Cat.
BYD’s success in the Thai market is expected to continue with the construction of its Thailand plant, which began in 2022 and is set to be operational in 2024, with an annual output of 150,000 vehicles. The vehicles produced at this plant will primarily be supplied to the Thai market and other Asia-Pacific markets.
See also: Tesla Delivers Model 3 and Model Y Electric Vehicles in Thailand, Expanding Presence in Asia
Moreover, BYD has formed a joint company with UzAuto in Uzbekistan to produce and sell vehicles, mainly delivered to the Central Asian market, with relevant vehicles set to be delivered this year.
Overall, BYD’s success in Thailand demonstrates the growing demand for EVs in the Asia-Pacific region and highlights the company’s commitment to expanding its global footprint.