BYD in Thailand with Atto 3 off to a roaring start.
They just got a new piece of land in Shaanxi for producing parts for NEVs.
In Fuzhou, they have new project with 8 billion RMB to produce motor system and car modules and other parts. Will begin work in 2023.
A new humongous project in Shenzhen (for final assembly?) that is just 3 km away from the new RoRo car dock that they are building. Basically as soon as cars get off the production line, they can head toward the dock to be shipped out.
I believe this is for shen-shan industrial zone's second phase. First phase just came online and produces parts of NEVs
second phase was signed earlier this year to produce parts for 600k NEVs
Phase 1 investment was 5 billion RMB. Phase 2 is 20 billion RMB.
fyi, this is the dock next to Shenshan industrial zone.
First shipment was in April, they are really expanding this dock to support the larger export operation.
One more thing, BYD's gross margin on cars higher than all its domestic rivals in China
BYD reported significantly stronger profitability than its peers with a gross margin of 22.75% in the third quarter, followed by Changan’s 17.4%, SAIC’s 9.6%, and GAC’s 4.6%, while Huawei-backed Seres is still losing money.
And this is only going to get higher as their more expensive cars get added to the lineup and more exports happen.