BYD has been accelerating its overseas expansion program, strategically partnering with local entities in each market to swiftly launch its range of BEVs in those markets. Jordan is the latest market to be added to BYD’s network. Jordan has also become the first market in the Middle East to get BYD passenger vehicles. In Jordan, BYD has partnered with Mobility Solutions Auto Trade Company.
At an event held earlier this week to celebrate the launch of BYD’s passenger vehicles in Jordan, BYD presented four models that it will offer in Jordan in collaboration with its partner Mobility Solutions Auto Trade Company. The four models are the Dolphin, the Tang EV, the ATTO 3, and the flagship Han EV sedan. In a similar arrangement to the ones we have seen in the other new markets BYD is entering, BYD will collaborate on several fronts with its in-country partner, including partnering on after-sales service and maintenance. According to reports from Jordan, electric vehicle sales in Jordan jumped from 5,083 in 2021 to 14,377 in 2022. In the first 11 months of 2022, 14,733 gasoline vehicles, 8,879 diesel vehicles, and 12,405 hybrid vehicles were brought in.
It’s really good to see that BYD is entering another new market. BYD has been on a roll, launching in several markets around the world, backed by its increased production capacity. BYD has launched in several markets in Europe, South America, Australia, New Zealand, and Asia. You can also get BYD passenger and commercial vehicles in some countries on the African continent. Last month, BYD sold over 15,000 vehicles overseas. Another exciting development that will help underpin its drive to expand production outside China, BYD has just started constructing a plant in Thailand that will produce 150,000 vehicles per year. The plant is expected to be operational in early 2024.
I think we will start seeing such announcements more often from other Chinese NEV firms as well. We are starting to see a sort of glut of models in China in certain segments. For example, there are so many small city EV models from many different OEMs. A combination of factors — such as a potential saturation of the domestic market in some segments, the constant iteration and product improvement we see from several OEMs resulting in more compelling offerings, improved supply chains after the bottlenecks at the height of the pandemic, as well as the ongoing price war in the Chinese NEV space that has seen almost all the major players offering significant discounts in recent times — could catalyse a rush to look into the export markets more aggressively in order to raise margins as well as raise sales volumes. These Chinese OEMs will probably not have a hard time finding eager customers, as most international markets are starved of decent affordable EVs.
This could help spark a revolution that accelerates the transition to electric mobility in some markets in a similar manner to what happened in the mobile phone industry and the solar panel industry — where solar panel production increased and prices dropped drastically, increasing adoption to a similar degree. It looks like exciting times ahead in the EV sector.
Images courtesy of BYD
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