Chinese EV maker sees Vietnam as key market in Southeast Asia

Chinese electric vehicle (EV) maker BYD has chosen Vietnam as a key market for its development in Southeast Asia, Vo Minh Luc, CEO of BYD Auto Vietnam, has said.

Saturday, August 03, 2024 11:55

the EV maker BYD introduces its brand with three key lines on July 18 in HCM City (Photo: VNA)

Hanoi (VNA) -༺ Chinese electric vehicle (EV) maker BYD has chosen Vietnam as a key market for its development in Southeast Asia, Vo Minh Luc, CEO of BYD Auto Vietnam, has said.

The world's largest EV manufacturer has officially introduced its advanced EV models in Vietnam, and announced its strategy in the market. In an interview granted to the Vietnam News Agency, Luc said as the world's largest new-energy vehicle manufacturer, BYD possesses a range of proprietary technologies, adding BYD's business has been implemented in over 80 countries and territories, and this number is expected to continue increasing in the future.

BYD considers Vietnam a key market, and also the final market in the region, he said, stressing that Vietnam is a very promising market with a population exceeding 100 million people, consistently high GDP growth, and continuously invested and improved infrastructure. With its distribution network across the country, BYD hopes to offer Vietnamese customers an opportunity to experience technologies applied in BYD's products, contributing to a greener and more sustainable life. According to Luc, the Vietnamese market is very dynamic and greatly potential. He said that BYD will continue to introduce new products to consumers, providing them with more choices, while promoting green and smart mobility solutions, towards contributing to the goals of energy saving and carbon emission reduction in Vietnam.

On July 18, the EV maker introduced its brand with three key lines, namely BYD DOLPHIN, BYD ATTO 3 and BYD SEAL, which have price tags starting from 659 million VND (26,037 USD). Liu Xueliang, general manager of BYD Asia-Pacific auto sales division, said the firm plans to officially open 10 showrooms in Hanoi, Ho Chi Minh City, and Binh Duong, Ba Ria-Vung Tau, Thanh Hoa, Quang Ninh, and Bac Giang provinces, adding that the figure will be increased to 100 nationwide within three years. In addition, BYD has inked cooperation agreements with three banks and four insurance partners to carry out loan support programmes and bring exclusive incentives to customers. It has also shaken hands with 10 charging equipment providers and operators in Vietnam, while actively seeking to set up more partnerships, aiming to contribute to promoting the new energy vehicle industry in Vietnam and the country’s green economy./.

VNA

#Chinese electric vehicle #BYD #key market #potential market #Vietnam China Vietnam

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