Chinese EV makers challenging market leaders at auto show in Bangkok

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Visitors look at BYD's electric vehicle "Sealion" during the 45th Bangkok Motor Show in Nonthaburi, Thailand, March 26, 2024. /AP

Chinese electric vehicle makers are showcasing their latest models, including a flying car, as they take on global rivals at the Bangkok International Motor Show.

Companies like BYD, XPeng and Great Wall Motors are selling fast in Thailand, challenging longstanding market leaders like Toyota, Isuzu and Ford, as they expand exports across the globe.

BYD sold 30,650 electric vehicles (EV) in Thailand last year, followed by 12,777 sold by Neta, a brand of Chinese electric vehicle maker Hozon Auto, which is based in eastern China's Zhejiang Province. They were trailed by Tesla, British brand MG and Chinese car maker Great Wall Motor.

"It's very colorful now. Many brands come in. I think this is very good and it's looking very bright for the whole market of EV cars to be honest," Pratarnwong Phornprapha, chief executive officer of the Rever Group, BYD's distributor in Thailand, said in an interview.

XPeng, a start-up based in the southern Chinese city of Guangzhou, is another newcomer to an already overcrowded market back home. But Paramee Thingcharoen, its chief marketing officer, said the company saw plenty of opportunity and was testing the waters.

"We target the premium segment, however, in the very high tech products that we have to offer. We're pretty confident that we have a wide space to enter the market with that positioning, and we're not quite worried about the competition," she said.

XPeng was displaying its XPeng AeroHT Voyager X2, a flying concept car.

"We believe the future mobility is not limited to only on wheels," she said. "It can be a unicorn you can ride on in the future. It's unlimited."

Source(s): AP