BYD Expands in Thailand amid China's Rare Earth Regulation Tightening
BYD has opened a one hundred eighty-six million dollar facility in Thailand to expand its market in Southeast Asia amid new EU tariffs. China's new regulations on rare earth elements, starting October one, declare state control over these vital materials for advanced technologies, in response to U.S. trade restrictions.
BYD, the Chinese electric vehicle (EV) manufacturer, has inaugurated a $486 million facility in Thailand aimed at bolstering its production and sales in Southeast Asia.
The new factory, with an annual capacity of 150,000 units, marks BYD's first in the region and will serve both local and export markets, including Europe.
This expansion comes as new EU tariffs on Chinese EVs take effect.
Meanwhile, China has announced new regulations on the rare earth industry, declaring state ownership over these crucial materials beginning October 1.
The regulations aim to tightly control the entire supply chain of rare earth elements, which are essential for EVs and other advanced technologies.
This move responds to U.S. efforts to limit China’s access to advanced chip technology.
The new factory, with an annual capacity of 150,000 units, marks BYD's first in the region and will serve both local and export markets, including Europe.
This expansion comes as new EU tariffs on Chinese EVs take effect.
Meanwhile, China has announced new regulations on the rare earth industry, declaring state ownership over these crucial materials beginning October 1.
The regulations aim to tightly control the entire supply chain of rare earth elements, which are essential for EVs and other advanced technologies.
This move responds to U.S. efforts to limit China’s access to advanced chip technology.
