, according to a Vietnamese government statement citing the company’s chair. Reuters in January exclusively reported that the Xian-based EV maker had plans to open a plant in Vietnam to produce car parts, with the aim to export components to an assembly plant planned in neighboring Thailand.
BYD, which currently runs a factory to assemble electronic devices and parts in the northern Vietnamese province of Phu Tho, also proposed forming a local supply chain, according to the government statement released on Friday. The presence of BYD would pose a direct challenge to VinFast, a Vietnamese EV maker that began selling cars in 2019 and plans to expand in the United States and Europe.
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