Posted on 09 May 2023
Chinese automaker BYD is considering expanding its electric vehicle supply chain, including production and assembly layouts in Vietnam, according to the Vietnamese government.
In a statement, the government said that during a meeting between the country’s deputy prime minister Tran Hong Ha and BYD’s chairman Wang Chuanfu on 5 May, Wang shared the company’s expectations and targets for both the country and the Southeast Asian market, in general.
Wang said BYD will use its best technologies to expand its business in Vietnam with the new EV production investment, the government said. He expects Vietnam to create favourable conditions for the company to complete investment procedures.
Currently, BYD operates an electronics and components plant in the Phu Tho province, where it intends to form a local supply chain, according to the government statement.
The investment size and other details such as planned production capacity weren’t disclosed. BYD is yet to reply to Kallanish’s request for comment.
Source:Kallanish
