BYD chases Ford and Toyota with its latest EV plant set to open in Cambodia
China’s EV giant BYD is aggressively expanding overseas. As it finalizes plans for yet another EV manufacturing plant, this time in Cambodia, BYD will set up shop next to newly opened Ford and Toyota facilities.
BYD’s impressive growth streak is not slowing down. In October, BYD sold over 500,000 new energy vehicles (NEVs), its fifth straight record sales month and the first time it has crossed the half-million mark in a single month.
With China’s auto market becoming flooded with low-cost competitors, BYD is looking to key overseas markets to drive growth.
After opening its first plant in Thailand earlier this year, a booming EV region, BYD plans to open up shop in another major Southeast Asian market.
According to Khmer Times, BYD is nearing a deal to establish a new EV manufacturing plant in Cambodia. Prime Minister Hun Manet said on Wednesday that the Council for the Development of Cambodia (CDC) is in the final stage of negotiations with BYD to build a new electric vehicle facility in the region.
“We may be aware that BYD is a giant Chinese company specialising in EV production, comparable to Tesla, the largest EV manufacturer in the United States,” Mr Hun Manet said at the event.
BYD closes in on deal for a new EV plant in Cambodia
BYD will follow Toyota, which opened an assembly plant in Cambodia in May, and Ford’s first assembly plant in the region, which opened in June 2022.
Cambodia’s prime minister stressed the importance of attracting new investments. With geopolitical tensions rising, many companies are looking to new locations.
Southeast Asia is expected to become a major electric vehicle hub. The Cambodian government unveiled plans earlier this year to raise automotive and electronics exports to over $2 billion while creating more than 22,000 new jobs.
BYD opening a new EV plant would be “excellent news” for Cambodia, Natharoun Ngo Son, Country Director of EnergyLab, told Khmer Times.
An EV manufacturing plant will “provide an excellent opportunity to reskill or upskill the Cambodian workforce” for new higher-paying jobs. EnergyLab is launching a new skills development program early next year to prepare the Cambodian workforce for the auto industry’s shift to EVs.
The news comes after BYD launched its first electric pickup, the Shark PHEV (BYD Shark 6), in Cambodia last month.
BYD is also planning to open EV plants in Mexico, Brazil, Pakistan, Hungary, and Turkey as it competes with Ford and Toyota in the global auto market.
Electrek’s Take
According to a recent Bloomberg report, BYD is quickly catching up to Ford in global deliveries. BYD outsold Ford in the third quarter by around 40,000 units.
While Ford is cutting more jobs in Europe as part of its restructuring, BYD has been on a major hiring spree as it ramps up production to meet the higher demand.
BYD is known for its low-cost EV models, like the Seagull, Dolphin, and Atto 3, but the Chinese auto giant is expanding into pickup trucks, midsize smart SUVs, and luxury EVs.
Ford is well aware of BYD’s rise in the global auto ranks. CEO Jim Farley has warned rivals in the past about losing significant revenue if they cannot keep up with China. Farley said he was shocked by the advanced tech he saw after a trip to China in early 2023.
Although Ford is shifting gears to focus on smaller, lower-cost EVs, it may be too little too late. Ford is developing what’s promised to be one of the most efficient EV platforms in California, but its first model based on it, a midsize electric pickup, isn’t due out until 2027.
Will BYD overtake Ford in the global auto ranks? Let us know what you think in the comments below.
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Germany’s largest offshore wind farm under construction, EnBW’s He Dreiht, just hit a big milestone: The first enormous turbine is now up in the North Sea.
He Dreiht – which means “it spins” in Low German – is using Vestas’s massive 15 megawatt (MW) turbines, the first project in the world to install them. Just one spin of one of the rotors can generate enough electricity to power four households for an entire day.
When it’s finished, He Dreiht will have 64 mega turbines cranking out 960 megawatts (MW) of clean power – enough to supply around 1.1 million homes. And it’s being built without any government subsidies.
EnBW, one of Germany’s major energy companies, has been working in offshore wind for more than 15 years, but He Dreiht is their biggest project yet. “It will play a key role in helping us to significantly grow our renewable energy output from 6.6 GW to over 10 GW by 2030,” said Michael Class, who heads up EnBW’s generation portfolio development.
The project is a win for Vestas, too. “With the installation of the first V236-15.0 MW, we have reached an important milestone for both the He Dreiht project and our offshore ramp-up, which helps Germany build a more secure, affordable, and sustainable energy system,” said Nils de Baar, president of Vestas Northern & Central Europe.
He Dreiht is located about 85 kilometers (53 miles) northwest of Borkum and 110 kilometers (68 miles) west of Helgoland. At peak times, more than 500 workers will be out at sea building the farm, using a fleet of more than 60 ships. EnBW’s offshore team in Hamburg is running the show.
The installation process is a major operation. The 64 foundations were already set in the seabed last year. Parts for the turbines are loaded onto the installation vessel Wind Orca in Esbjerg, Denmark, and shipped out in a 12-hour journey to the construction site. From there, the turbines are lifted into place. Meanwhile, crews are also working on internal wind farm cabling.
A partner consortium made up of Allianz Capital Partners, AIP, and Norges Bank Investment Management owns 49.9% of the shares in He Dreiht.
Read more: Trump admin halts $5 billion NY offshore wind project mid-build
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Tesla has released a quick update about its Tesla Semi factory in Nevada. It says that it is on track for volume production of the electric semi truck in 2026.
The Tesla Semi was first scheduled to go into production in 2019, but it has faced numerous delays.
Now, it appears that there is finally some momentum to bring it to volume production.
For the last two years, Tesla has been working to build a new factory next to Gigafactory Nevada, where it builds the battery packs and drive units for most of its electric vehicles built in North America.
Today, Tesla released a “progress update on the factory, confirming that it finished building and it’s now working on deploying the production lines:
Tesla had previously mentioned aiming for volume production by 2025, but it is now only talking about starting production toward the end of the year and ramping up next year.
The automaker reiterated its planned production capacity of 50,000 units.
We recently reported that an early Tesla Semi customer, Ryder, stated that the electric truck program is experiencing more delays and a price increase described as “dramatic.”
They now expect to take deliveries of their first trucks later in 2026 and said that the price has increased “dramatically,” leading them to scale back their pilot program from 42 to 18 Tesla Semi trucks.
When originally unveiling the Tesla Semi in 2017, the automaker mentioned prices of $150,000 for a 300-mile range truck and $180,000 for the 500-mile version. Tesla also took orders for a “Founder’s Series Semi” at $200,000.
However, Tesla didn’t update the prices when launching the “production version” of the truck in late 2022. Price increases have been speculated, but the company has never confirmed them.
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Vietnamese solar panel maker Boviet Solar just opened the doors to its first US factory — a huge new PV module plant in Greenville, North Carolina.
The company dropped $294 million into the state-of-the-art facility, which will pump out Boviet’s Gamma Series monofacial and Vega Series bifacial solar panels. They’re using advanced PERC and N-Type solar cell tech, which basically means these panels are built to deliver higher efficiency and better performance across residential, commercial, industrial, and utility-scale projects.
The Greenville factory’s first phase is now online with an annual PV module output capacity of 2 gigawatts (GW). For Phase 2, which is scheduled to come online in the second half of 2026, Boviet will invest another $100 million to add 600,000 square feet and ramp up to another 2 GW. It will make high-efficiency solar cells.
Once both phases are complete, Boviet’s campus will cover more than 1 million square feet of manufacturing and R&D space. It’s one of the biggest clean energy manufacturing projects North Carolina has ever seen.
The jobs impact is significant, too. The first phase will create 460 skilled local jobs. Phase 2 is expected to add another 908, bringing the total to over 1,300 direct jobs, plus nearly 2,000 more indirect jobs across the region. That’s good news for Pitt County’s economy, real estate market, and workforce training programs.
“This facility is not just creating jobs, but creating opportunity, innovation, and a stronger foundation for eastern North Carolina,” said Senator Kandie Smith. Governor Josh Stein added that Boviet Solar’s move shows how North Carolina is leading the way in clean energy growth.
Read more: Thomas Built Buses debuts its next-gen electric school bus
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