BANGKOK — One day after Chinese automaker BYD inaugurated its first electric vehicle plant in Thailand at WHA Industrial Estate in Rayong Province, Mr. Wang Chuanfu, CEO of BYD Company Limited, met with Prime Minister Srettha Thavisin at the Government House on July 5. One of the key discussion points was the hot issue of car price adjustments.
Previously, a drama that became the talk of the town arose when BYD distributors announced a promotion for the BYD DOLPHIN electric vehicle model on June 19, offering discounts of up to 140,000-160,000 baht.
This affected buyers who had purchased the model earlier, as those who bought on April 30 were persuaded that it was the last day of a discount campaign and received only a 40,090 baht discount. Now, the price has dropped by more than 100,000 baht, along with special freebies.
On July 1, the car distributor announced another price reduction for the New BYD ATTO 3 electric vehicle group, including four models, citing the celebration of BYD’s first car manufacturing plant opening in Thailand. The total discount reached up to 340,000 baht, causing dissatisfaction among consumers who had purchased these electric vehicles earlier.
They gathered to file a complaint with the Office of the Consumer Protection Board (OCPB).
Subsequently, on July 3, Ms. Jiraporn Sinthuprai, Minister to the Prime Minister’s Office, ordered the OCPB to investigate this BYD campaign.
During Friday’s discussion, the Prime Minister told the BYD CEO that managing consumer expectations regarding pricing is crucial and asked him to consider appropriate consumer protection for Thai customers.
Mr. Wang expressed gratitude for the Prime Minister’s valuable advice and promised to consider the PM’s suggestions. This includes adjusting future pricing in an appropriate manner and frequency to allow the market to adapt, as well as pledging to find measures to compensate affected customers.
Mr. Wang emphasized that BYD values the Thai market, which has high potential. The company uses more of Thailand’s supply chain than required and produces several components in Thailand, bringing new technology production to the country.
The Prime Minister thanked BYD for recognizing Thailand’s potential and choosing to invest in the country, which will stimulate the Thai economy. He requested the company to consider capable Thai manufacturers and entrepreneurs, use the Thai supply chain as much as possible, and produce at full capacity as agreed.
The production capacity of BYD’s plant in Thailand is 150,000 vehicles per year, and it will take two years to reach full capacity. Besides selling in Thailand, the company plans to export to other ASEAN countries, Indonesia, and Vietnam.
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