China’s growing electric vehicle (EV) industry has its eyes set on dominating the Southeast Asian market as part of its broader ambition to lead the global EV sector. This strategic move comes on the heels of China’s record-breaking export figures in 2023, which saw the country ship 1.2 million electric vehicles and 4 million conventional cars primarily to Europe and Asia-Pacific regions, including Thailand and Australia.
However, China’s rapid growth in the EV sector has led to increased attention from the United States and the European Union, who have responded by implementing tariffs to support their own domestic industries.
The global EV market has seen remarkable growth, with over 13 million EVs registered in 2023—3.5 million more than the previous year. China accounted for nearly 60 percent of these registrations, with Europe and the United States trailing at 25 percent and 10 percent, respectively.
Chinese automakers like BYD Auto, SAIC Motor, Li Auto, Geely, and Chery took up 53 percent of the EVs global market share in 2023. Notably, BYD has surpassed the world’s best-selling EV brand Tesla within the same year.
China’s focus is now on Southeast Asia, where EV demand surged by 894 percent in 2023. Chinese firms are investing heavily in the region, setting up production facilities and leveraging their cost advantages to outpace Western and other Asian competitors.
Thailand has emerged as a pivotal market in China’s expansion strategy. On 4 July, China launched its first EV manufacturing plant in Rayong, Thailand, with the introduction of the BYD Dolphin. This facility is capable of producing 150,000 vehicles annually. Besides Thailand, China is also establishing manufacturing plants in Uzbekistan, Hungary, and Brazil.
