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Mainland EV makers like BYD have potential to establish foothold in Southeast Asian markets, panel at Post’s China Conference hears

  • The quality, range and technology of some very established Chinese brands like BYD are far, far superior, CEO of Inchcape Greater China and Singapore says
  • Expect very strong year-on-year growth in EV sales in China to continue, portfolio manager at asset manager Ninety One says

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Why you can trust SCMP
The panel focusing on EVs at the Post’s China Conference on Wednesday. From left to right, the SCMP’s Eric Ng, Wee Shann Lam, deputy CEO (technology) at LTA, Jasmmine Wong, CEO of Inchcape Greater China and Singapore, and Monica Huang, EV charging principal consultant at Envision Digital. Photo: Handout
Martin Choi
China’s home-grown electric-vehicle (EV) brands have the potential to establish a foothold in Southeast Asia’s automobile markets, but these original equipment manufacturers (OEMs) need to establish their brands in the minds of the consumer, a panel at the Post’s China Conference: Southeast Asia in Singapore heard on Thursday.
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“This could be the era of the so-called Chinese OEMs, because they are quite leading in terms of [battery-powered] cars,” Jasmmine Wong, CEO of Inchcape Greater China and Singapore, told the panel, which was called “Driving into the Fossil Fuel Free Future in Asia: the electric vehicle ecosystem in Southeast Asia”. “If you look at BYD and some of the very established Chinese brands … the quality, and the so-called range and technology is far, far superior.”

BYD, the world’s largest EV marker, more than tripled its 2022 sales to 1.86 million units, most of them in China. The Hong Kong and Shenzhen-listed carmaker’s sales of pure electric and plug-in hybrid cars started to climb in the second quarter of 2022, helping it dethrone Tesla as the world’s largest EV firm.

“[China’s EV brands] have a lot of potential, but what they really need to build are trust and credentials, and also credibility in the mind of the consumer,” Wong said. “People need to get used to the Chinese OEM brand, and the brand must mean something. [There] must be a pledge to the consumer in terms of safety. All this takes time to build.”

Jasmmine Wong, CEO of Inchcape Greater China and Singapore. Photo: Handout
Jasmmine Wong, CEO of Inchcape Greater China and Singapore. Photo: Handout

Founded by Chinese billionaire Wang Chuanfu in 1995, BYD has been making vehicles since 2003. The initials of the brand stand for “Build Your Dream”.

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BYD mainly sells cars in mainland China, but is looking to become a global player with plans to expand in some overseas markets. It launched an SUV in Thailand last October.
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