Chinese electric car giant BYD has outlined ambitious plans to expand its dealership presence in Vietnam as it launches the country’s first stores.
A whopping 13 new BYD dealerships will open their doors in the southeast Asian country on Saturday, after only just opening its first plant in Thailand on July 4.
Additionally, the automaker will be introducing three new models to the Vietnamese market in October and plans to expand its volume of retail stores there to 100 by 2026.
“Vietnam is the last market BYD sets foot in in the Asia-Pacific region and is an important market in this region,” said the automaker’s Chief Operating Officer, Vo Minh Luc.
Back in May 2023 the Vietnamese government said that BYD was planning to build an electric vehicle manufacturing plant in Phu Tho province in northern Vietnam, but this was delayed after EV sales began to downtrend.
HSBC estimated in May report that Vietnam’s annual sales of electric two-wheelers and electric car sales could rise from less than one million in 2024 to more than 2.5 million by 2036, according to Reuters.
