The world's largest electric car maker is gaining ground in the global car market. BYD has confirmed that it is on track to open another large EV plant overseas by the end of 2025. The new facility in Indonesia will be able to produce 150,000 vehicles a year as BYD expands its manufacturing footprint overseas.
After selling a record of more than 4.27 million new energy vehicles (NEVs) last year, BYD is increasing the pressure on 2025.
Tesla topped BYD by about 25,000 units last year for the global EV sales crown. However, in terms of production, the Chinese leader surpassed Tesla by about 4,500 vehicles to get the title of “The world's largest EV maker” in 2024.
As a new wave of domestic EVs arrives in China, BYD is focusing on overseas markets to drive growth in 2025.
After opening its first EV factory in Thailand last year, BYD confirmed that another production facility abroad will open by the end of the year. In a new interview no ReutersEagles Zhao, the president director of BYD in Indonesia, said the company aims to complete a $1 billion manufacturing plant in the region by the end of 2025.
“All the progress of our local production is going well and on track. We will keep our commitment, which will end in 2025,” Zhao said.
BYD to open new overseas EV plant in Indonesia by 2025
According to Zhao, BYD is planning to use the new EV plant for export as the overseas market is growing rapidly.
Like its facility in Thailand, the new overseas facility will produce 150,000 vehicles. Thanks to the $1 billion investment, BYD is temporarily allowed to export cars to Indonesia without significant tax.
The move is part of Indonesia's goal of building 600,000 EVs domestically by 2030. Like other Southeast Asian countries, Indonesia is introducing new policies to attract foreign investment and take advantage of the market shift to EVs.
BYD is already the leading EV maker in Indonesia, accounting for more than a third (36%) of the market. According to the motor association, the EV giant sold about 15,500 vehicles last year, its first year of sales.
The company already sells several popular models in Indonesia, including Seal, Atto 3, and Dolphin. Last summer, it launched its first electric multi-purpose vehicle (MPV), the M6. BYD said the M6 was already its best-selling car last year. This week, BYD launched its luxury brand Denza.
According to Zhao, BYD will launch more cars in the region this year but did not say which models or how many to expect.
Once construction is complete, Zhao expects production to begin soon. With the arrival of new models, BYD expects “rapid” sales growth in Indonesia this year.
Electrek's Take
BYD's rapid rise in the global car market has caused die-hard automakers to scramble. For example, Japan's Honda and Nissan are now teaming up as they struggle to keep up with BYD and other Chinese EV makers.
Japanese car brands such as Toyota and Honda have historically dominated Southeast Asia. Once representing more than 90% of the market, Japanese automakers have watched their share in the “Detroit of Asia,” or Thailand, drop to just 76% in the past two years.
In fact, BYD sold more electric cars in Japan last year than Toyota, and 2024 was BYD's first sales year in Toyota's home market.
BYD is rapidly expanding production globally by opening new plants in Mexico, Brazil, Hungary, Turkey and Pakistan.
Although BYD is best known for low-cost EVs like the Seagull and Dolphin, it is launching new models in almost every segment, including trucks, smart SUVs, luxury models, and large electric vehicles.
One thing is certain: BYD will continue to be a name to watch in 2025 as the company looks to maintain its impressive global sales.
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