Southeast Asia Electric Vehicle Sales Rankings for the First Quarter Released, Tesla Falls Behind BYD

Tesla falls behind BYD in Southeast Asia electric vehicle sales rankings for the first quarter

【Phoneauto News】As more and more automotive companies set their sights on the Southeast Asian market, the first-mover advantage of Chinese new energy vehicle companies has gradually emerged. On July 21st, Phoneauto learned that according to research firm Counterpoint Research, Chinese automotive companies contributed three-quarters of the electric vehicle sales in Southeast Asia in the first quarter of this year. Among them, the BYD Atto 3 is the best-selling electric vehicle in the region, followed by the NIO ES6, and then the Tesla Model Y.

Counterpoint’s analysis covers not only the three major automotive markets in Southeast Asia – Indonesia, Thailand, and Malaysia, but also Vietnam, the Philippines, Singapore, and Myanmar. Among them, Thailand, as a major automotive manufacturing center, is the most active in the electrification transformation. In the first three months of this year, the country accounted for nearly 79% of the total electric vehicle sales in Southeast Asia. The Thai government plans for electric vehicle production to account for 30% of total automobile production by 2030. Naturally, domestic automotive companies will not miss this opportunity.

According to incomplete statistics, many automotive companies including BYD, GAC Aion, SAIC Motor, Xpeng, and others are currently entering the Thai market, and some companies are also laying out complete vehicle production and industrial chain enterprises. According to data from the China Association of Automobile Manufacturers, the top three countries for China’s new energy vehicle exports from January to May this year were Belgium, the United Kingdom, and Thailand. The reason why the Thai market has become an important destination for Chinese new energy vehicle companies to go overseas is closely related to its industrial foundation, policy support, and geographical layout. Thailand not only provides incentives to consumers but also subsidies to automotive companies. According to Bloomberg’s report, Chinese new energy vehicle companies have committed to investing at least $1.44 billion in Thailand to build production facilities. For the past few decades, Thailand’s automotive industry has been dominated by Japanese companies.

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