BYD’s 13 dealerships will officially open to the Vietnamese public on July 20. BYD hopes to expand the number of its dealerships to about 100 by 2026.
BYD Vietnam Chief Operating Officer Vo Minh Luc revealed that BYD’s first product lineup in Vietnam will increase to six models from October, including the compact crossover Atto 3 (known as “Yuan PLUS” in China).
Currently, all models provided by BYD to Vietnam are imported from China. The Vietnamese government said last year that BYD had decided to build a factory in the north of the country to produce electric vehicles, but according to news from the operator of the northern industrial park in Vietnam in March this year, BYD’s plan to build a factory in Vietnam has slowed down.
Vo Minh Luc said in an emailed statement to Reuters that BYD is in talks with multiple local authorities in Vietnam to optimize the factory construction plan.
BYD Atto 3 starts at 766 million dong ($30,300) in Vietnam, slightly higher than VinFast VF 6, which starts at 675 million dong ($26,689.5).
Like BYD, VinFast no longer makes gasoline-engined cars. Last year, VinFast sold 32,000 electric vehicles in Vietnam, but most of them were sold to its subsidiaries.
In a May report, HSBC predicted that annual sales of electric two-wheelers and electric vehicles in Vietnam would be less than 1 million this year, but could rise to more than 2.5 million by 2036.
Chinese electric car maker BYD opened its first stores in Vietnam this week and outlined plans to aggressively expand its dealer network in the country, posing a tough challenge to local rival VinFast, Reuters reported.
Post time: Feb-14-2025
