BYD's Thai plant starts operation

China's BYD saw its 8 millionth new energy vehicle rolled off its assembly line at its new plant in Thailand on Thursday.

BYD completed the plant in Rayong in just 16 months, with an annual production capacity of 150,000 vehicles.

The facility encompasses processes of stamping, painting, welding, final assembly, and producing car components. It is projected to generate 10,000 jobs.

The plant is also the Chinese automaker's first factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player.

Thailand is a regional auto assembly and export hub, and has long been dominated by Japanese carmakers such as Toyota Motor, Honda Motor Co and Isuzu Motors in the age of gasoline vehicles.

"Thailand has a clear EV vision and is entering a new era of auto manufacturing," BYD CEO and President Wang Chuanfu said at the opening ceremony. "We will bring technology from China to Thailand."

By 2030, the country aims to convert 30 percent of its annual production of 2.5 million vehicles into EVs, according to a government plan.

"BYD is using Thailand as a production hub for export to ASEAN and many other countries," said Narit Therdsteerasukdi, secretary-general of Thailand's Board of Investment.