ReutersRecently reportedBYD has recently been in Southeast AsiasalesStrong performance, defeating competitors such as Tesla,alreadyOccupying over a quarter of the sales share of electric vehicles in the region.

tradeInsider analysis shows that BYD is best-selling in Southeast Asia due to its priceadvantage, twoyesUnlike Tesla, BYD hasThe 'cooperation model' has entered Southeast Asia, which is more grounded and can cope with complex local laws and regulations. Through this mode, BYDstillBeing able to perceive local consumer preferences, adapt to local regulations and policies, and expand the business landscape.

Compared to Tesla's independent distribution model, the disadvantage of cooperative distribution lies in its limited profit margin. However, replicating Tesla's global independent sales model is not an easy task. Reuters believes that few car brands can cause a sensation like Tesla, just like TeslaCEO Elon Musk is generally rare among automotive executives with strong influence in the media,From this perspective, cooperative distribution or moreSuitable for BYDThe approach.

stayAccording to Sumen Mandal, a senior analyst at Counterpoint Research, temporarily sacrificing profit margins is not necessarily a bad thing. The current focus of BYDPriority should be given toEstablish brand image,Gain user trustaboveProvide richer profits for local distributors,It is conducive to paving the way for BYD's subsequent expansion.

BYD's current partners in Southeast Asia include multinational groups from Malaysia, Indonesia, and the Philippines. In Malaysia and Singapore,Sime Darby Company Becomes a Distributor for BYD,Indonesia isBakrie&Brothers,The Philippines isBakrie&Brothers,In ThailandRever Automotive distribution.

Previously, BYD announced that it would build a factory in Thailand, and it is expected thatStarting operation in 2024, with a planned annual production capacity of approximately 150000 vehicles. In Thailand, priced at only $30000, the BYD Atto 3 is the best-selling electric vehicle.

BYD's expansion into the Southeast Asian market is related to the significant market potential of local electric vehicles.

althoughThe electric vehicle market in Southeast Asia is currently small, but it is growing rapidly. In the second quarter of this year, the share of electric vehicles sold in Southeast Asia was approximately6.4%, only 3.8% in the first quarter. Last year's first quarter share was only a meager 0.3%.2023Q2,BYDHas already taken over the entire marketshareof26%.