BYD Co (比亞迪) plans to produce electric vehicles (EVs) in Vietnam, and expects support from the country’s government to do so, the Southeast Asian nation said following a meeting on Friday last week between Vietnamese Deputy Prime Minister Tran Hong Ha and BYD chairman and founder Wang Chuan-fu (王傳福).
Wang expects Vietnam to create “favorable conditions” for BYD to complete investment procedures for it to quickly start making EVs to be sold locally and in other parts of Southeast Asia, a report on a government Web site said, adding that the company plans to form a local supply chain.
A BYD spokeswoman confirmed by e-mail the plans to make EVs in Vietnam. She did not provide any investment details.
Photo: REUTERS
BYD, China’s biggest EV brand, is building its first overseas production facility in Thailand. The Shenzhen-based company has been considering the Philippines and Indonesia for a new Southeast Asia plant, in addition to Vietnam.
The company sold 210,295 vehicles last month, about double the number from a year earlier, but only slightly higher than the previous month. While most sales come from China, BYD has been expanding overseas in Asia, as well as Europe and Latin America. Exports account for about 6 percent of its EV sales.
Separately, China’s Hozon New Energy Automobile Co (合眾新能源汽車) last week signed a deal to produce EVs in Thailand from next year.
In Thailand, automakers only sold about 9,600 EVs last year. Deliveries jumped to 14,700 in the first quarter of this year.
The numbers are modest overall, but India and Indonesia are also showing rapid growth, which clean energy research group BloombergNEF expects to continue this year and beyond.
The New Taiwan dollar is on the verge of overtaking the yuan as Asia’s best carry-trade target given its lower risk of interest-rate and currency volatility. A strategy of borrowing the New Taiwan dollar to invest in higher-yielding alternatives has generated the second-highest return over the past month among Asian currencies behind the yuan, based on the Sharpe ratio that measures risk-adjusted relative returns. The New Taiwan dollar may soon replace its Chinese peer as the region’s favored carry trade tool, analysts say, citing Beijing’s efforts to support the yuan that can create wild swings in borrowing costs. In contrast,
Nvidia Corp’s demand for advanced packaging from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remains strong though the kind of technology it needs is changing, Nvidia CEO Jensen Huang (黃仁勳) said yesterday, after he was asked whether the company was cutting orders. Nvidia’s most advanced artificial intelligence (AI) chip, Blackwell, consists of multiple chips glued together using a complex chip-on-wafer-on-substrate (CoWoS) advanced packaging technology offered by TSMC, Nvidia’s main contract chipmaker. “As we move into Blackwell, we will use largely CoWoS-L. Of course, we’re still manufacturing Hopper, and Hopper will use CowoS-S. We will also transition the CoWoS-S capacity to CoWos-L,” Huang said
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
INDUSTRY LEADER: TSMC aims to continue outperforming the industry’s growth and makes 2025 another strong growth year, chairman and CEO C.C. Wei says Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp and Apple Inc, yesterday said it aims to grow revenue by about 25 percent this year, driven by robust demand for artificial intelligence (AI) chips. That means TSMC would continue to outpace the foundry industry’s 10 percent annual growth this year based on the chipmaker’s estimate. The chipmaker expects revenue from AI-related chips to double this year, extending a three-fold increase last year. The growth would quicken over the next five years at a compound annual growth rate of 45 percent, fueled by strong demand for the high-performance computing
RSS