BYD chases Ford and Toyota with its latest EV plant set to open in Cambodia

Electrek11-22

China’s EV giant BYD is aggressively expanding overseas. As it finalizes plans for yet another EV manufacturing plant, this time in Cambodia, BYD will set up shop next to newly opened Ford and Toyota ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2485294422?lang=en_US&edition=fundamental","thumbnail":"https://electrek.co/wp-content/uploads/sites/3/2024/11/BYD-EV-plant-Cambodia.jpeg?quality=82&strip=all&w=1400","is_english":true,"pubTime":"2024-11-22 06:07","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2485294422","market":"us","top_or_hot":-1,"title":"BYD chases Ford and Toyota with its latest EV plant set to open in Cambodia","media":"Electrek","content":"<div>\n<p>China’s EV giant BYD is aggressively expanding overseas. As it finalizes plans for yet another EV manufacturing plant, this time in Cambodia, BYD will set up shop next to newly opened Ford and Toyota ...</p>\n\n<a href=\"https://electrek.co/2024/11/21/byd-chases-ford-toyota-new-ev-plant-cambodia/\">Source Link</a>\n\n</div>\n","source":"electrek_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BYD chases Ford and Toyota with its latest EV plant set to open in Cambodia</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; 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\">\nBYD chases Ford and Toyota with its latest EV plant set to open in Cambodia\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-22 06:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://electrek.co/2024/11/21/byd-chases-ford-toyota-new-ev-plant-cambodia/><strong>Electrek</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China’s EV giant BYD is aggressively expanding overseas. As it finalizes plans for yet another EV manufacturing plant, this time in Cambodia, BYD will set up shop next to newly opened Ford and Toyota ...</p>\n\n<a href=\"https://electrek.co/2024/11/21/byd-chases-ford-toyota-new-ev-plant-cambodia/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4099","symbol_name":"汽车制造商","start_time":0,"source_url":"https://electrek.co/2024/11/21/byd-chases-ford-toyota-new-ev-plant-cambodia/","article_id":"2485294422","we_media_id":null,"thumbnails":["https://electrek.co/wp-content/uploads/sites/3/2024/11/BYD-EV-plant-Cambodia.jpeg?quality=82&strip=all&w=1400"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485294422","pubTimestamp":1732226863,"sourceInfo":{"source_id":"electrek_highlight","name":"Electrek"},"weMediaInfo":null,"summary":"China’s EV giant BYD is aggressively expanding overseas. As it finalizes plans for yet another EV manufacturing plant, this time in Cambodia, BYD will set up shop next to newly opened Ford and Toyota facilities.","collect":0,"end_time":0,"defaultTopTitle":"electrek.co","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4099":"汽车制造商","BK4516":"特朗普概念","BK4574":"无人驾驶","03160":"华夏日股对冲","F":"福特汽车","BK4555":"新能源车","TM":"丰田汽车","BK4585":"ETF&股票定投概念","CDC":"VictoryShares US EQ Income Enhanced Volatility Wtd ETF","BK4588":"碎股"},"translate_title":"比亚迪追赶福特和丰田，其最新电动汽车工厂将在柬埔寨开业","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CDC":1,"F":1,"TM":1,"03160":0.6},"content_text":"China’s EV giant BYD is aggressively expanding overseas. As it finalizes plans for yet another EV manufacturing plant, this time in Cambodia, BYD will set up shop next to newly opened Ford and Toyota facilities.\n\nBYD’s impressive growth streak is not slowing down. In October, BYD sold over 500,000 new energy vehicles (NEVs), its fifth straight record sales month and the first time it has crossed the half-million mark in a single month.\nWith China’s auto market becoming flooded with low-cost competitors, BYD is looking to key overseas markets to drive growth.\nAfter opening its first plant in Thailand earlier this year, a booming EV region, BYD plans to open up shop in another major Southeast Asian market.\nAccording to Khmer Times, BYD is nearing a deal to establish a new EV manufacturing plant in Cambodia. Prime Minister Hun Manet said on Wednesday that the Council for the Development of Cambodia (CDC) is in the final stage of negotiations with BYD to build a new electric vehicle facility in the region.\n“We may be aware that BYD is a giant Chinese company specialising in EV production, comparable to Tesla, the largest EV manufacturer in the United States,” Mr Hun Manet said at the event.\nBYD’s first EV manufacturing plant in Thailand (Source: BYD)\nBYD closes in on deal for a new EV plant in Cambodia\nBYD will follow Toyota, which opened an assembly plant in Cambodia in May, and Ford’s first assembly plant in the region, which opened in June 2022.\nCambodia’s prime minister stressed the importance of attracting new investments. With geopolitical tensions rising, many companies are looking to new locations.\nBYD’s luxury Denza opens its first store in Cambodia (Source: BYD)\nSoutheast Asia is expected to become a major electric vehicle hub. The Cambodian government unveiled plans earlier this year to raise automotive and electronics exports to over $2 billion while creating more than 22,000 new jobs.\nBYD opening a new EV plant would be “excellent news” for Cambodia, Natharoun Ngo Son, Country Director of EnergyLab, told Khmer Times.\nBYD Dolphin (left) and Atto 3 (right) Source: BYD\nAn EV manufacturing plant will “provide an excellent opportunity to reskill or upskill the Cambodian workforce” for new higher-paying jobs. EnergyLab is launching a new skills development program early next year to prepare the Cambodian workforce for the auto industry’s shift to EVs.\nThe news comes after BYD launched its first electric pickup, the Shark PHEV (BYD Shark 6), in Cambodia last month.\nBYD launches Shark PHEV pickup in Cambodia (Source: BYD)\nBYD is also planning to open EV plants in Mexico, Brazil, Pakistan, Hungary, and Turkey as it competes with Ford and Toyota in the global auto market.\nElectrek’s Take\nAccording to a recent Bloomberg report, BYD is quickly catching up to Ford in global deliveries. BYD outsold Ford in the third quarter by around 40,000 units.\nWhile Ford is cutting more jobs in Europe as part of its restructuring, BYD has been on a major hiring spree as it ramps up production to meet the higher demand. \nBYD is known for its low-cost EV models, like the Seagull, Dolphin, and Atto 3, but the Chinese auto giant is expanding into pickup trucks, midsize smart SUVs, and luxury EVs.\nFord is well aware of BYD’s rise in the global auto ranks. CEO Jim Farley has warned rivals in the past about losing significant revenue if they cannot keep up with China. Farley said he was shocked by the advanced tech he saw after a trip to China in early 2023.\nAlthough Ford is shifting gears to focus on smaller, lower-cost EVs, it may be too little too late. Ford is developing what’s promised to be one of the most efficient EV platforms in California, but its first model based on it, a midsize electric pickup, isn’t due out until 2027.\nWill BYD overtake Ford in the global auto ranks? Let us know what you think in the comments below.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Product Release","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"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":"4.29.2","shortVersion":"4.29.2","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/2485294422"}