On Thursday, China’s BYD, the world’s leading electric vehicle (EV) manufacturer, introduced three new battery EV models in Indonesia, marking a strategic move to enhance its footprint in Southeast Asia’s largest economy.
Having surpassed Tesla as the top EV maker globally in the fourth quarter, BYD reported robust sales, with the majority of its 526,000 vehicles sold during the period being in the Chinese market. In 2023, BYD achieved a remarkable milestone by selling 3.02 million electric vehicles, encompassing both battery EVs and plug-in hybrids.
In the Southeast Asian market, BYD has demonstrated exceptional performance in EV sales, driven by the popularity of its affordable models and successful partnerships with local distributors. The company, already involved in offering electric buses and taxi fleets through Indonesian partners, has now introduced the Dolphin hatchback, the Atto 3 sport utility vehicle, and the Seal sedan to the Indonesian market.
Indonesia, in its efforts to accelerate EV adoption, has become an attractive destination for automakers. The country aims to attract investments in local battery production and EV supply chains, leveraging its abundant nickel reserves, a crucial material for batteries.
During the launch event, Chief Economic Minister Airlangga Hartarto conveyed in a video message that BYD plans to invest USD 1.3 billion in facilities with a production capacity of 150,000 vehicles. Eagle Zhao, BYD’s Indonesia president, assured that the company is on schedule to build these facilities later this year. Additionally, BYD aims to establish a robust sales network comprising up to 50 outlets across Indonesia by the end of 2024.
The move by BYD aligns with Indonesia’s vision of fostering a conducive environment for EV growth and attracting substantial investments, reflecting the country’s commitment to sustainable and eco-friendly transportation solutions. As BYD expands its offerings in Indonesia, it anticipates contributing significantly to the country’s evolving EV landscape and strengthening its position in the Southeast Asian market.