The Electrification of Vietnam: BYD’s Vision for an Electric Future

“BYD Enters Vietnam with a Shared Goal of Developing the New Energy Vehicle Market”

From its earliest encounters with the Vietnamese media, BYD has made clear its purpose in entering the market: to help local customers understand the future of green mobility and electric vehicles, thereby fostering a habit of using new energy vehicles in daily life.

When approaching a new market, BYD selects its most successful models from nearly 80 countries and territories to introduce to local consumers. This simple approach carries a significant message: the company aims to deliver the best possible experience with each new launch, ensuring that even though the market is a “latecomer,” it will be a “front-runner.”

BYD has already made a significant impact, especially in neighboring Thailand, where it holds nearly half the market share. In 2023, BYD made it to the top 10 best-selling cars in Thailand three times: with the BYD ATTO 3 taking the lead, followed by the BYD DOLPHIN and BYD SEAL in third and ninth place, respectively. These three models are also expected to dominate the S-shaped country.

Mr. Vo Minh Luc, Executive Director of BYD Auto Vietnam, at the brand launch event

“We don’t focus on sales figures,” said Mr. Vo Minh Luc, Executive Director of BYD Auto Vietnam. “The most important thing is for Vietnamese customers to understand and experience the quality of BYD products. Our goal is to bring globally-loved new energy vehicles that are environmentally friendly and meet the practical needs of local customers.”

“Let the Products Speak for Themselves”

BYD’s confident entry into the Vietnamese market is backed by its cutting-edge technologies, coveted by the global electric vehicle industry. The trio of BYD SEAL, BYD ATTO 3, and BYD DOLPHIN boasts exclusive technologies developed by a team of over 102,800 design and development engineers, including the renowned Blade battery, e-Platform 3.0, and CTB (Cell-To-Body) technology.

Specifically, the Blade battery is known for its safety, superior energy supply, and ability to withstand rigorous tests for fire, explosion, deformation, and heat dissipation. Meanwhile, the e-Platform 3.0 and CTB technology maximize advantages in performance, safety, and space optimization.

Mr. Luc believes that by experiencing BYD vehicles first-hand, “the products will speak for themselves, greatly influencing customers’ car-buying decisions.”

To further promote green transportation in Vietnam and ease customers’ concerns about vehicle maintenance costs, BYD offers a range of official gifts, including a 2.2 kW mobile charger, a 7 kW wall-mounted charger with free installation, and a power conversion device that turns the BYD vehicle into a “mobile charging station.” The company also provides a six-year or 150,000 km warranty for the entire vehicle and an eight-year or 160,000 km warranty for the battery.

“Building Comprehensive Ecosystems to Facilitate Customer Access to New Energy Vehicles”

When asked about charging infrastructure, Mr. Luc assured that BYD Auto Vietnam is collaborating with over ten third-party charging station partners nationwide, providing customers with convenience and peace of mind wherever they go. This strategy, applied in many other countries, showcases BYD’s adaptability to local conditions. Additionally, BYD has clear requirements for its partners and dealers regarding charging stations, mandating the installation of fast-charging stations with a capacity of 60kW or higher and standard charging stations for long-distance travelers or those in need of quick charges.

In parallel, BYD is actively expanding its network of dealerships and showrooms nationwide. “This year, BYD aims to establish 50 dealerships across Vietnam,” revealed Mr. Luc. “Our criteria for selecting dealerships include well-prepared infrastructure, skilled technicians, and a clear investment plan for the electric vehicle business. By 2026, we plan to have 100 showrooms nationwide.”

Recognizing the importance of financial accessibility, BYD has partnered with three major Vietnamese banks—BIDV, VPBank, and VietinBank—to offer customers attractive loan packages with up to 85% financing and competitive interest rates.

“We Never Entered Vietnam with the Intention of Competing”

Regarding competition, BYD maintains a positive and collaborative attitude. Mr. Luc emphasized, “We never entered Vietnam with the intention of competing with anyone, whether domestic or Chinese manufacturers. Our current focus is on showcasing BYD’s technology and the experiences our vehicles offer.” He acknowledges that this is just the beginning of a long journey, but with global experience and a well-prepared strategy, BYD is poised to realize its “Green Dream” in Vietnam.

BYD’s presence will likely attract more competitors to the market, but the company’s leadership views this as a positive development. They believe that electric vehicle brands will strive to offer the best technology and cost-effective solutions, encouraging the adoption of electric vehicles in the future.