A senior official confirmed on Friday that Thailand’s investigation into discounts offered by BYD, the Chinese electric vehicle manufacturer, will proceed despite a cash-back initiative launched by its distributor. This response comes after consumers expressed concerns about having overpaid for their EVs.
Thailand, a key hub for auto assembly and exports, is BYD’s largest overseas market, where the company is the leading electric vehicle brand. BYD recently inaugurated its first Southeast Asian factory in Thailand.
Rever Automotive, BYD’s distributor in Thailand, announced this week a cash-back program and discounts at charging stations lasting until March 2025. Existing customers can receive up to 50,000 baht ($1,382) on their next purchase of ATTO 3 or BYD Seal models from July 18 to the end of August, according to a Facebook post by Rever.
Despite this initiative, Thailand’s Consumer Protection Board will continue its investigation, with Passakorn Thapmongkol, a senior official, noting that new complaints have brought the total to over 100. “We have another meeting next week to discuss further,” Passakorn told Reuters, referring to ongoing discussions between the agency and Rever.
Rever, which operates over 100 dealerships in Thailand, clarified that the cash-back campaign is a promotional offer for existing customers rather than a compensation measure. BYD holds a 20% stake in Rever Automotive.
The government became involved after Rever significantly reduced prices on its cars—by up to 340,000 baht ($9,400) for some models—leading to complaints from earlier BYD buyers. Prime Minister Srettha Thavisin has urged BYD CEO Wang Chuanfu to ensure fair pricing for Thai consumers, with Wang promising that future pricing would be appropriate.
BYD is part of a broader trend of Chinese automakers investing over $1.44 billion in new EV factories in Thailand, supported by government subsidies and tax incentives. Other manufacturers, such as Changan Auto, have also pledged significant investments.
The Thai government aims to transition 30% of its 2.5 million vehicle production capacity to electric vehicles by 2030.
($1 = 36.1900 baht)
Reporting by Chayut Setboonsarng and Panarat Thepgumpanat; Editing by Martin Petty