BYD Unveils Three Electric Models in Indonesia

Jawad

18 Jan 2024

399

BYD Unveils Three Electric Models in Indonesia

BYD, recognized as the world's largest electric vehicle manufacturer, has initiated its expansion into Southeast Asia's largest economy by introducing three all-electric models in Indonesia. The unveiled electric vehicles include the Dolphin hatchback, Seal sedan, and Atto 3 crossover, showcasing BYD's commitment to increasing its footprint in the region.

Having surpassed Tesla in pure EV sales during Q4 of 2023 and achieving a global sales figure of over 3.02 million cars in the same year, BYD has demonstrated its prowess in the electric vehicle market. The brand has particularly excelled in Southeast Asian markets, outperforming competitors through the robust sales of high-quality and affordable electric models.

Indonesia , aiming to expedite the adoption of electric vehicles, is strategically focused on attracting investments in local battery production and establishing EV supply chains, capitalizing on the nation's abundant nickel reserves, a crucial component for batteries. During the launch event, Airlangga Hartarto, Indonesia's Chief Economic Minister, disclosed BYD's plan to invest $1.3 billion in facilities capable of producing 150,000 vehicles. Minister Hartarto also hinted at potential incentives, including the elimination of import tariffs and value-added tax for businesses investing in local EV factories, with the expectation that such measures would stimulate investment and boost the demand for electric vehicles.

Eagle Zhao, BYD's Indonesia president, affirmed the company's commitment to its plans, stating that they are on schedule to establish the production facilities later this year. BYD aims to create a robust sales network, with up to 50 outlets across the country by the end of 2024, further solidifying its presence in the Indonesian market.

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