China's electric vehicle giant BYD has been on a tear in Southeast Asia, shooting past rivals including Tesla to take more than a quarter of the share of EVs sold in the region. Along with attractive prices, BYD's early success is based on a pattern of distribution partnerships with large, local conglomerates that have allowed the carmaker to expand reach, test consumer preferences and navigate complex government regulations in the region, officials from three partners and analysts said. This partnership model, similar to that pursued by Japanese automakers in some Southeast Asian countries decades ago, is helping BYD to build market share rapidly and contrasts with Tesla's go-it-alone distribution - though it comes at a cost.
By Devjyot Ghoshal and Stefanno Sulaiman
Along with attractive prices, BYD's early success is based on a pattern of distribution partnerships with large, local conglomerates that have allowed the carmaker to expand reach, test consumer preferences and navigate complex government regulations in the region, officials from three partners and analysts said.
"At present, BYD's primary focus is on brand proliferation rather than optimising profit margins," said Soumen Mandal, a senior analyst at Counterpoint Research. EVs constituted 6.4% of all passenger vehicle sales in Southeast Asia in the second quarter, up from 3.8% in the preceding quarter, and the region could gain in importance for Chinese automakers after the European Commission last week announced an investigation into Beijing's EV subsidies.BYD's regional distributors include divisions of Sime Darby in Malaysia and Singapore, Indonesia's Bakrie & Brothers, Ayala Corp in the Philippines and Thailand's Rever Automotive.
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