BYD acquires 20% stake in Rever Automotive to strengthen EV partnership and growth in Thailand.

China's EV leader BYD is acquiring a 20% stake in Thailand-based distributor Rever Automotive to deepen their partnership and accelerate EV adoption in the region. BYD's largest market outside China is Thailand, where it holds a 46% share in the EV segment and is the third-largest player in passenger cars. The company recently opened a $490M factory in Thailand with an annual capacity of 150,000 vehicles, employing 10,000 workers.