BYD and its Thai partner, Rêver Automotive, held a launch conference on October 10 for the long-range version of the Yuan Plus electric vehicle model, named the ATTO 3 in overseas markets. The move follows a joint brand press conference, the signing of a contract with WHA to build a production facility in Thailand, an application for EV subsidies, and a Yuan Plus test ride.
As the first model BYD launched in overseas markets, the Yuan Plus has since received positive feedback in Australia, New Zealand, Singapore, and Cambodia, following its release in China in February of this year.
The Yuan Plus is based on BYD’s e-platform 3.0. The exterior adopts its Dragon Face 3.0 design language, while the interior is full of concepts related to sports and fitness. This time, BYD and Rêver revamped the body colors according to the local characteristics of Thailand, including emerald, solar, lagoon, frost, and graphite.
The price of the new car is 1,199,900 baht ($31,452), which is cheaper than other Southeast Asian countries thanks to the Thai government’s EV subsidies.
Not long ago, BYD announced that it would locate its first overseas passenger car factory in Thailand, which is expected to start operations in 2024 with an annual production capacity of 150,000 vehicles. BYD said that, thanks to its profound background in the automobile industry and the development potential of the local new energy vehicle market, Thailand has become one of the most important automobile production bases in Southeast Asia.
At the end of 2021, the Thai government issued a national EV policy. Officials claimed that by 2030, EVs would account for more than 30% of the total Thai market, in order to realize the vision of a green and low-carbon society.
At the beginning of this year, BYD set itself a sales target of 1.5 million units. After abandoning the traditional fuel vehicle business, the firm’s production and sales have been rising month by month. According to the latest data, from January to September this year, BYD’s sales of new energy passenger vehicles totaled 1.1753 million units, a year-on-year increase of 255.3%. So far, BYD has completed 78.4% of its annual sales target. With the promotion of various preferential policies in the fourth quarter and rising consumer demand, the goal of achieving 1.5 million units this year is just around the corner.
In terms of products, in addition to the current Dynasty and Ocean series and its Denza brand, BYD will launch a luxury car brand next year, and the price of the first model will reach one million yuan. Moreover, the fifth-generation DM-i system is planned to be launched in 2024.