By Clarence Leong


BYD Co. has inked a deal with Thailand's WHA Corp. PCL to build its first electric-vehicle plant in Southeast Asia as it seeks to expand its footprint beyond China.

The Chinese auto maker has signed a land-purchase agreement with WHA for a 96-hectare plot in an industrial estate south of Bangkok, according to a statement from WHA on Thursday.

The plant, which will have an annual capacity of 150,000 electric passenger cars, is slated to start operating in 2024, according to the statement. The cars produced there will be exported to Southeast Asia and Europe.

The new facility marks "a significant advancement in our group's expansion," Liu Xueliang, general manager of BYD's Asia-Pacific auto sales division, said in the statement.

BYD is backed by Warren Buffett's Berkshire Hathaway Inc., though the investment firm has recently pared its stake in the company.


Write to Clarence Leong at clarence.leong@wsj.com


(END) Dow Jones Newswires

09-08-22 0138ET