BYD Enters Indonesia Market, Plans to Establish $1 Billion Factory by 2025
In a recent statement, Zhao Jing, CEO of BYD's Indonesian subsidiary, announced that the company aims to complete the construction and production facilities for its proposed Indonesian factory by the end of 2025. The planned investment of $1 billion will be utilized in establishing this new facility, which is set to increase its annual production capacity significantly.
BYD officially began its business operations in Indonesia on January 18, 2024
Earlier in May 2023, BYD signed a Memorandum of Understanding (MOU) with the Indonesian government to invest $13 billion in establishing its fifth overseas automobile factory in Indonesia. This new facility was expected to produce around 150,000 vehicles annually and commenced production around September 2026.
In April 2024, BYD announced its partnership with PT Suryabuat Swadaya, a developer of the 'Banten Smart City' industrial park zone. As part of this collaborative workplan, BYD is slated to set up its electric vehicles factory within the city's industrial area. The allocated land for the facility measures over 1,080 hectares and will undergo phase-by-phase construction.
BYD showcased several of its vehicle models at the Indonesian International Motor Show on July 23, 2024.
The automobile giant has now established a presence in Indonesia with four distinct car types - Seal (Sea Lion), Atto 3 (Plus), Dolphin (manatee)-based MPVs, and M6. The data from industry bodies showed remarkable growth in this year as BYD surpassed 15,429 units sold to date and is set to occupy just over 36 per cent of the Indonesian electric vehicle market by November 2024.
BYD announced in December that it will expand its factory's land size from 108 hectares to 126 after 2024. This expansion process is expected to produce a workforce exceeding 18,000 additional jobs. Furthermore, Indonesian officials have stated that this development will see the creation of the largest automobile production center in Southeast Asia;
