The BYD’s new facility is expected to serve export market. Credit: Sergii Chernov/Shutterstock.

Chinese EV manufacturer BYD is on track to complete its $1bn production facility in Indonesia by the end of 2025, the company’s Indonesia president director Eagle Zhao told Reuters.

The plant is aimed at serving the export market and will have a planned annual production capacity of 150,000 EV units. It is currently under construction within an industrial complex in Subang, West Java.

In a joint interview to Reuters and CNBC Indonesia, Zhao: “Every single progression of our local manufacturing is quite smooth and also on the track. We will keep our commitment, which is by end-2025, we will complete the construction works.”

Zhao anticipates that the new plant will start producing vehicles shortly after construction is completed.

In 2024, BYD sold 15,429 units in Indonesia during its first year of operations, according to data from the automotive association. From January to November, BYD led the market for battery-powered electric vehicles, capturing roughly 36% of the market share.

This development follows BYD’s expansion in Thailand, where it opened a vehicle assembly plant with an identical production capacity of 150,000 units per year in July 2024.

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Expanding further, BYD Auto officially entered the South Korean market with the introduction of the Atto 3 battery-powered compact SUV.

Subsidy eligibility for the Atto 3 under South Korea’s new rules is still pending government assessment.

Meanwhile, Indonesia’s new vehicle sales saw a 6% decrease to 79,806 units in December 2024, compared to 85,284 units the previous year, as reported by wholesale data compiled by the local automotive industry association Gaikindo.

The country’s vehicle market declined by 14% to 865,723 units in 2024 from 1,005,802 units in 2023.

Sales of passenger vehicles declining by 14% to 672,986 units last year while commercial vehicle sales fell by 15% to 192,737 units.