According to the latest insurance registration records released in February 2023, BYD became the best-selling EV in Thailand for the first time in January. Then, it maintained its lead in February with 2,078 EVs registered, accounting for 37.8% of the market. Of these, 2,068 were the ATTO 3 model, a compact electric vehicle with a range of up to 400 kilometers on a single charge.
Best Selling EV Brands and Models
NETA came in second with 1,254 vehicles registered in February, followed by MG with 915. Tesla, which started delivering new cars in Thailand in February, registered 709 vehicles and ranked fourth.
In terms of specific models, the top five EV registrations in Thailand in February were the BYD ATTO 3 with 2,068 registrations, followed by the NETA V with 1,254, the Tesla Model Y with 534, the MG EP with 356, and the MG 4 Electric with 318.
|BYD ATTO 3||2,068||37.6%|
|Tesla Model Y||534||9.7%|
|MG 4 Electric||318||5.8%|
|ORA Good Cat||282||5.1%|
|MG ZS EV||241||4.4%|
|Tesla Model 3||175||3.2%|
It’s worth noting that the official selling price of the ATTO 3 in Thailand is 1.2 million Baht (35,400 USD), while the same version is priced at 139,800 RMB (20,300 USD) in China and 38,000 EUR (40,500 USD) in Europe.
BYD Thailand Plant
On March 10, 2023, BYD held a groundbreaking ceremony for the new factory. At the ceremony, BYD also held a delivery ceremony for the 9,999th and 10,000th ATTO 3 vehicles sold in Thailand. In addition, BYD plans to have 60-70 sales outlets in Thailand by the end of 2023.
BYD Thailand plant is expected to be operational in 2024 and has an annual output of 150,000 vehicles. This will be BYD’s first overseas vehicle manufacturing plant. The vehicles produced at this plant will mainly be supplied to the Thai market and other markets in the Asia-Pacific region.
By January 2023, BYD had supplied more than 10,000 ATTO 3 vehicles to Thailand, most of which have now been delivered. The construction of BYD’s plant in Thailand is also accelerating. The construction of NETA’s plant in Thailand has also begun. Tesla began to deliver orders to Thailand on a large scale in February.
Competition in the Thai EV market is intensifying, but ICE is still the most affected. Japanese cars have a very high market share in Southeast Asia and are the most affected. Similarly, Japanese cars in China, Europe, the US, and other markets have also been greatly impacted by the continuous expansion of the EV market share. Chinese EV brands and American Tesla have many opportunities in these markets.
Source: BYD; AutoLife; iThome