A THAI investigation into discounts from China’s BYD will continue despite a cashback programme from its distributor in response to backlash from consumers who felt they overpaid for their electric vehicles (EVs), a senior official said on Friday (Jul 19).
Thailand, a regional auto assembly and export hub, is BYD’s largest overseas market, where it is the top-selling EV brand. BYD opened a factory in Thailand last month, its first in South-east Asia.
Rever Automotive, BYD’s Thailand distributor, this week announced a cashback programme and discounts at charging stations until March 2025.
Existing BYD customers can receive cashback of up to 50,000 baht (S$1,854) on their next purchase of the Atto 3 or BYD Seals models from Jul 18 to the end of August, Rever said in a Facebook post.
But an investigation by Thailand’s Consumer Protection Board will continue, with more than 100 new complaints now coming in, said Passakorn Thapmongkol, a senior official at the agency.
“We have another meeting next week to so they can explain further,” Passakorn told Reuters, outlining discussions between the agency and Rever.
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Rever, which has a network of over 100 dealerships across Thailand, did not immediately respond to a request for comment. BYD holds a 20 per cent stake in Rever Automotive.
The issue came onto the government’s radar this month after Rever made sharp price cuts to its cars, as much as 340,000 baht for some models, triggering complaints from previous buyers of BYD EVs.
Prime Minister Srettha Thavisin asked BYD CEO Wang Chuanfu to ensure Thai consumers were protected, to which Wang assured the premier its future pricing would be appropriate.
Shenzhen-listed BYD is part of a wave of Chinese automakers investing more than US$1.4 billion to set up new EV factories in Thailand, helped by government subsidies and tax incentives.
Pledged investments from other makers include Changan Auto with US$285 million.
The government aims convert 30 per cent of its 2.5 million vehicle production capacity to be EVs by 2030. REUTERS
