China's BYD to Complete US$1bn Indonesia Plant by Year-End, Executive Says

Tempo01-20

TEMPO.CO, Jakarta - China's top electric vehicle maker BYD (002594.SZ) aims to complete its $1 billion plant in Indonesia at the end of 2025, the head of its local unit said on Monday, January 20, ...

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SL1977
01-21
SL1977
Those who buy byd will suffer when they think indonesia is suitable.

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We will keep our commitment, which is by end-2025, we will complete the construction works,\" Zhao said in a joint interview with Reuters and CNBC Indonesia.\n\n\n\n\n\n\n\n\n\nThe plant, which is being built at an industrial complex in Subang, West Java, will have a production capacity of 150,000 EV units annually.With the investment, BYD has been allowed to temporarily ship its cars into Indonesia without import duties, a policy aimed to stimulate demand for EVs while attracting investment by automakers. The government aims for 600,000 EVs to be domestically produced by 2030.In 2024, its first year of sales in Indonesia, BYD sold 15,429 units, auto association data showed. According to January to November figures, BYD was the leader in terms of battery-based EV sales with about 36% of the market share.Zhao said he expected the new plant to produce its first cars not long after the completion of construction.BYD has so far introduced four models in Indonesia, namely the Seal sedan, the Atto 3 SUV, the Dolphin hatchback, and the M6 seven-seater MPV, which was its most sold model out of the four last year.Zhao added that the company planned to introduce more models this year, without specifying how many, in order to book a \"rapid growth\" in sales in 2025. BYD is to also launch its premium Denza brand in Indonesia this week.BYD, which overshot its global sales target to more than 4 million units sold last year, has been stepping up its presence in Southeast Asia, challenging the car market dominated by Japanese and Korean firms.Last year, BYD opened its first EV plant in the region, in Thailand, worth $490 million and has a production capacity of 150,000 units per year, including plug-in hybrids.In Singapore, BYD widened its sales lead over Tesla (TSLA.O)  in the first half of 2024.REUTERSEditor’s Choice: In Norway, Nearly All New Cars Sold in 2024 were Fully ElectricClick here to get the latest news updates from Tempo on Google News","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":394747780456536,"gmtCreate":1737395673027,"gmtModify":1737395676447,"author":{"id":"3577882033944507","authorId":"3577882033944507","name":"SL1977","avatar":"https://static.tigerbbs.com/846343ca761b93618fb0332b00e58af9","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":1,"idStr":"3577882033944507","authorIdStr":"3577882033944507"},"htmlText":"Those who buy byd will suffer when they think indonesia is suitable.&nbsp;","listText":"Those who buy byd will suffer when they think indonesia is suitable.&nbsp;","text":"Those who buy byd will suffer when they think indonesia is suitable.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/394747780456536","repostId":2504728197,"repostType":2,"repost":{"id":"2504728197","kind":"highlight","pubTimestamp":1737385380,"share":"https://ttm.financial/m/news/2504728197?lang=&edition=fundamental","pubTime":"2025-01-20 23:03","market":"nz","language":"en","title":"China's BYD to Complete US$1bn Indonesia Plant by Year-End, Executive Says","url":"https://stock-news.laohu8.com/highlight/detail?id=2504728197","media":"Tempo","summary":"TEMPO.CO, Jakarta -China's top electric vehicle maker BYD  aims to complete its $1 billion plant in Indonesia at the end of 2025, the head of its local unit said on Monday, January 20, 2025, underscoring the firm's ambition to dominate in the market where Japanese automakers are popular.The long-term plan for the plant is for the export market, said Eagle Zhao, BYD's president director in Indonesia.\"Every single progression of our local manufacturing is quite smooth and also on the track. We will keep our commitment, which is by end-2025, we will complete the construction works,\" Zhao said in a joint interview with Reuters and CNBC Indonesia.","content":"<html><body><div>\n<p><span><b>TEMPO.CO</b></span>, <span><b>Jakarta</b></span> - <span>China's top electric vehicle maker </span><span>BYD </span><span>(002594.SZ) aims to complete its $1 billion plant in Indonesia at the end of 2025, the head of its local unit said on Monday, January 20, 2025, underscoring the firm's ambition to dominate in the market where Japanese automakers are popular.</span></p><p><span>The long-term plan for the plant is for the export market, said Eagle Zhao, BYD's president director in Indonesia.</span></p><div>\n</div><p><span>\"Every single progression of our local manufacturing is quite smooth and also on the track. We will keep our commitment, which is by end-2025, we will complete the construction works,\" Zhao said in a joint interview with Reuters and CNBC Indonesia.</span></p><div>\n<button aria-label=\"Closed Banners\">\n<svg fill=\"none\" height=\"32\" viewbox=\"0 0 33 32\" width=\"33\" xmlns=\"http://www.w3.org/2000/svg\">\n<path d=\"M16.6738 28C23.3012 28 28.6738 22.6274 28.6738 16C28.6738 9.37258 23.3012 4 16.6738 4C10.0464 4 4.67383 9.37258 4.67383 16C4.67383 22.6274 10.0464 28 16.6738 28Z\" fill=\"#FAFAFA\" fill-opacity=\"0.8\"></path>\n<path d=\"M20.6738 12L12.6738 20\" stroke=\"#212121\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"1.5\"></path>\n<path d=\"M20.6738 20L12.6738 12\" stroke=\"#212121\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"1.5\"></path>\n</svg>\n</button>\n<div>\n</div>\n</div><p><span>The plant, which is being built at an industrial complex in Subang, West Java, will have a production capacity of 150,000 </span><span>EV </span><span>units annually.</span></p><p><span>With the investment, BYD has been allowed to temporarily ship its cars into Indonesia without import duties, a policy aimed to stimulate demand for EVs while attracting investment by automakers. The government aims for 600,000 EVs to be domestically produced by 2030.</span></p><p><span>In 2024, its first year of sales in Indonesia, BYD sold 15,429 units, auto association data showed. According to January to November figures, BYD was the leader in terms of battery-based EV sales with about 36% of the market share.</span></p><p><span>Zhao said he expected the new plant to produce its first cars not long after the completion of construction.</span></p><p><span>BYD has so far introduced four models in Indonesia, namely the Seal sedan, the Atto 3 SUV, the Dolphin hatchback, and the M6 seven-seater MPV, which was its most sold model out of the four last year.</span></p><p><span>Zhao added that the company planned to introduce more models this year, without specifying how many, in order to book a \"rapid growth\" in sales in 2025. BYD is to also launch its premium Denza brand in Indonesia this week.</span></p><p><span>BYD, which overshot its global sales target to more than 4 million units sold last year, has been stepping up its presence in Southeast Asia, challenging the car market dominated by Japanese and Korean firms.</span></p><p><span>Last year, BYD opened its first EV plant in the region, in Thailand, worth $490 million and has a production capacity of 150,000 units per year, including plug-in hybrids.</span></p><p><span>In Singapore, BYD widened its sales lead over </span><span>Tesla </span><span>(TSLA.O)</span><span>  in the first half of 2024.</span></p><p><b>REUTERS</b></p><p><b>Editor’s Choice: </b><b>In Norway, Nearly All New Cars Sold in 2024 were Fully Electric</b></p><p><b>Click here</b><b> to get the latest news updates from Tempo on Google News</b></p> </div></body></html>","source":"tempo_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina's BYD to Complete US$1bn Indonesia Plant by Year-End, Executive Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-01-20 23:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://en.tempo.co/read/1966206/chinas-byd-to-complete-us1bn-indonesia-plant-by-year-end-executive-says><strong>Tempo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TEMPO.CO, Jakarta - China's top electric vehicle maker BYD (002594.SZ) aims to complete its $1 billion plant in Indonesia at the end of 2025, the head of its local unit said on Monday, January 20, ...</p>\n\n<a href=\"https://en.tempo.co/read/1966206/chinas-byd-to-complete-us1bn-indonesia-plant-by-year-end-executive-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://statik.tempo.co/data/2024/09/28/id_1340712/1340712_720.jpg","relate_stocks":{"LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU2063271972.USD":"富兰克林创新领域基金","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","TSLA":"特斯拉","BK4511":"特斯拉概念","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","BK4598":"佩洛西持仓","LU2580892789.USD":"FRANKLIN SEALAND CHINA A-SHARES \"A\" (USD) ACC","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","SG9999015978.USD":"利安颠覆性创新基金A","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","002594":"比亚迪","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","BK4516":"特朗普概念","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","BK4592":"伊斯兰概念","BK4585":"ETF&股票定投概念","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","BK0264":"汽车制造","BK4588":"碎股","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","BK0155":"锂电池","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1861215975.USD":"贝莱德新一代科技基金 A2","BK0014":"新能源汽车","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","BK4534":"瑞士信贷持仓","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0234572021.USD":"高盛美国核心股票组合Acc","TSYW.SI":"TESLA 3xLongSG261006","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU2580892862.HKD":"FRANKLIN SEALAND CHINA A-SHARES \"A\" (HKD) ACC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","BK4555":"新能源车","BK0072":"苹果","BK0188":"融资融券"},"source_url":"https://en.tempo.co/read/1966206/chinas-byd-to-complete-us1bn-indonesia-plant-by-year-end-executive-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2504728197","content_text":"TEMPO.CO, Jakarta - China's top electric vehicle maker BYD (002594.SZ) aims to complete its $1 billion plant in Indonesia at the end of 2025, the head of its local unit said on Monday, January 20, 2025, underscoring the firm's ambition to dominate in the market where Japanese automakers are popular.The long-term plan for the plant is for the export market, said Eagle Zhao, BYD's president director in Indonesia.\n\"Every single progression of our local manufacturing is quite smooth and also on the track. We will keep our commitment, which is by end-2025, we will complete the construction works,\" Zhao said in a joint interview with Reuters and CNBC Indonesia.\n\n\n\n\n\n\n\n\n\nThe plant, which is being built at an industrial complex in Subang, West Java, will have a production capacity of 150,000 EV units annually.With the investment, BYD has been allowed to temporarily ship its cars into Indonesia without import duties, a policy aimed to stimulate demand for EVs while attracting investment by automakers. The government aims for 600,000 EVs to be domestically produced by 2030.In 2024, its first year of sales in Indonesia, BYD sold 15,429 units, auto association data showed. According to January to November figures, BYD was the leader in terms of battery-based EV sales with about 36% of the market share.Zhao said he expected the new plant to produce its first cars not long after the completion of construction.BYD has so far introduced four models in Indonesia, namely the Seal sedan, the Atto 3 SUV, the Dolphin hatchback, and the M6 seven-seater MPV, which was its most sold model out of the four last year.Zhao added that the company planned to introduce more models this year, without specifying how many, in order to book a \"rapid growth\" in sales in 2025. BYD is to also launch its premium Denza brand in Indonesia this week.BYD, which overshot its global sales target to more than 4 million units sold last year, has been stepping up its presence in Southeast Asia, challenging the car market dominated by Japanese and Korean firms.Last year, BYD opened its first EV plant in the region, in Thailand, worth $490 million and has a production capacity of 150,000 units per year, including plug-in hybrids.In Singapore, BYD widened its sales lead over Tesla (TSLA.O)  in the first half of 2024.REUTERSEditor’s Choice: In Norway, Nearly All New Cars Sold in 2024 were Fully ElectricClick here to get the latest news updates from Tempo on Google News","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2504728197"}