By Devjyot Ghoshal and Stefanno Sulaiman BANGKOK/JAKARTA (Reuters) - China's electric vehicle giant BYD has been on a tear in Southeast Asia, shooting ...
By Devjyot Ghoshal and Stefanno Sulaiman BANGKOK/JAKARTA - China's electric vehicle giant BYD has been on a tear in Southeast Asia, shooting past rivals including Tesla to take more than aBy Devjyot Ghoshal and Stefanno Sulaiman
This partnership model, similar to that pursued by Japanese automakers in some Southeast Asian countries decades ago, is helping BYD to build market share rapidly and contrasts with Tesla's go-it-alone distribution - though it comes at a cost. EVs constituted 6.4% of all passenger vehicle sales in Southeast Asia in the second quarter, up from 3.8% in the preceding quarter, and the region could gain in importance for Chinese automakers after the European Commission last week announced an investigation into Beijing's EV subsidies.BYD's regional distributors include divisions of Sime Darby in Malaysia and Singapore, Indonesia's Bakrie & Brothers, Ayala Corp in the Philippines and Thailand's Rever Automotive.
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