BYD Announces $1.3 Billion Investment to Build an EV Manufacturing Facility in Indonesia

Build Your Dreams (BYD), a Chinese manufacturer of electric vehicles, plans to commence construction of a 150,000-unit manufacturing facility in Indonesia with an initial investment of USD 1.3 billion.

The announcement was made on Thursday, January 18th, 2024, during the official launch of BYD's passenger car division in Indonesia. The event, held at Taman Mini Indonesia Indah (TMII) in East Jakarta, also saw the unveiling of three electric car models: BYD Seal, BYD Atto 3, and BYD Dolphin.

Liu Xueliang, General Manager of BYD Asia-Pacific, highlighted the company's global presence and experience, stating, "Thank you for this grand launching at TMII. We are delighted to gather here at the beginning of 2024 to launch BYD Passenger in Indonesia. These electric cars have undergone global testing and are distributed to almost 70 countries worldwide."

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The Coordinating Minister for Economic Affairs of Indonesia, Airlangga Hartarto, welcomed BYD's entry into the Indonesian market and expressed his appreciation for their commitment to promoting battery electric vehicles (BEVs). He stated, "A $1.3 billion investment with a capacity of 150,000 units. I appreciate BYD's commitment to launching battery-electric vehicles (BEV). I hope this can strengthen the era of electric vehicles and an environmentally friendly ecosystem."

BYD's investment in Indonesia is part of its larger global expansion strategy, which has already seen it establish production facilities in Hungary and Thailand. They are also reportedly considering building a factory in Mexico to serve the North American market.

About BYD

BYD, a Chinese multinational company, is a major player in the electric vehicle (EV) and new energy vehicle (NEV) markets. Founded in 1995, BYD has grown to become a leader in the development and manufacturing of EVs, batteries, and other sustainable technologies.

BYD is the world's largest manufacturer of NEVs, surpassing Tesla in 2022. They offer a wide range of electric cars, buses, trucks, and forklifts, as well as battery-powered monorails and other forms of electric transportation.

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