BYD Enters Indonesia, May Invest $1.3 Billion in Local Plant

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On January 18, BYD launched three models, SEAL, Atto 3(BYD Yuan Plus on the Chinese market), and Dolphin, in Indonesia, officially entering the local passenger car market. It is reported that the launch ceremony on January 18 was BYD’s first appearance in Indonesia, confirming Indonesia as part of BYD’s long-term global business expansion map.

In fact, BYD has delivered 500 electric vehicles of the E6 and T3 models to Indonesia’s Bluebird taxi in 2023, and 22 units K9 electric buses to Indonesia’s electric bus dealer VKTR Group.

BYD Dolphin

According to a high-level Indonesian government official, BYD will invest $1.3 billion in Indonesia, including the construction of a factory. Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto, citing talks with BYD executives, said the plant will have a capacity of 150,000 vehicles.

BYD Indonesia executive Eagle Zhao said the plant will start construction later this year and plans to build a sales network of up to 50 outlets in Indonesia by the end of 2024. He did not comment on the investment amount. A BYD spokesperson declined to comment on the company’s investment plans in Indonesia.

BYD Seal

In addition to BYD, Vietnamese car companies are also eyeing the Indonesian electric vehicle market. On January 16, it was reported that Vietnamese “Tesla” VinFast plans to invest at least $1.2 billion in Indonesia in the long term, for the distribution of cars and the establishment of an electric vehicle manufacturing plant. VinFast said it will invest about $2 billion to build an electric vehicle plant in Indonesia, with an estimated annual production capacity of 30,000 to 50,000 vehicles.

In addition, the green smart mobility company GSM, founded by the chairman of the Vietnamese group Vingroup and Vietnamese billionaire Pham Nhat Vuong, also plans to invest about $9 billion in Indonesia in the near future.

It is reported that VinFast, GSM, and Indonesian technology group GoTo signed a memorandum of understanding to promote the use of four-wheel electric vehicles on the Gojek platform to promote the improvement of green transportation in Indonesia.