China automaker BYD acquires 20% stake in Thai local distributor firm

Customers look at electric vehicles at a BYD Co. showroom, operated by Schiller Auto, in Budapest, Hungary, on Monday, May 27, 2024. Photographer: Akos Stiller/Bloomberg

BANGKOK: China’s BYD will acquire a 20% stake in its local distributor Rever Automotive in Thailand, its largest market outside of China where it is an electric vehicle (EV) market leader, the companies say.

The Shenzhen-based automaker opened its first factory in South-East Asia in Thailand this week.