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BYD to Complete Construction of $1B Indonesia Facility by Late 2025
BYDDYBYD(BYDDY) ZACKS·2025-01-21 15:56

BYD's Expansion in Indonesia - BYD plans to complete a 1billionEVplantinIndonesiabytheendof2025,targetingamarkettraditionallydominatedbyJapaneseautomakers[1]−Theplant,locatedinSubang,WestJava,willhaveanannualproductioncapacityof150,000EVsandisintendedtoservetheexportmarket[2]−BYDbenefitsfromatemporaryexemptionfromimportdutiesinIndonesia,apolicyaimedatboostingEVdemandandattractingforeigninvestment[3]BYD′sMarketPerformanceinIndonesia−InitsfirstyearofsalesinIndonesia,BYDsold15,429units,capturingabout361 billion EV plant in Indonesia by the end of 2025, targeting a market traditionally dominated by Japanese automakers [1] - The plant, located in Subang, West Java, will have an annual production capacity of 150,000 EVs and is intended to serve the export market [2] - BYD benefits from a temporary exemption from import duties in Indonesia, a policy aimed at boosting EV demand and attracting foreign investment [3] BYD's Market Performance in Indonesia - In its first year of sales in Indonesia, BYD sold 15,429 units, capturing about 36% of the battery-based EV market share [4] - The M6 seven-seater MPV was BYD's top-selling model in Indonesia last year [4] - BYD plans to launch additional models in 2025, including its premium Denza brand, aiming for rapid sales growth [5] BYD's Global Expansion and Sales - BYD surpassed its global sales target in 2024, delivering over four million units [5] - The company has been expanding its footprint in Southeast Asia, challenging Japanese and Korean automakers [5] - BYD inaugurated its first EV plant in Thailand in 2023, a 490 million facility with a production capacity of 150,000 units per year [5] - In Singapore, BYD extended its lead over Tesla in the first half of 2024 [5] Industry Context and Indonesia's EV Goals - Indonesia aims to produce 600,000 domestically manufactured EVs by 2030, supported by measures to encourage foreign investment [3] - The country is part of a broader trend in Southeast Asia to boost EV adoption and attract automakers [3]