A Thai investigation into discounts from China’s BYD Co (比亞迪) would continue despite a cash-back program from its distributor in response to a backlash from consumers who felt they overpaid for their electric vehicles (EV), a senior Thai official said on Friday.
Thailand, a regional auto assembly and export hub, is BYD’s largest overseas market, where it is the top-selling electric vehicle brand. BYD last month opened a factory in Thailand, its first in Southeast Asia.
Rever Automotive, BYD’s Thailand distributor, this week announced a cash-back program and discounts at charging stations until March next year.
Photo: EPA-EFE
Existing BYD customers can receive cash back of up to 50,000 baht (US$1,378) on their next purchase of the ATTO 3 or BYD Seals models from Thursday to the end of next month, Rever said in a Facebook post.
However, an investigation by the Thai Office of Consumer Protection Board would continue, with new complaints coming in, now more than 100, said Passakorn Thapmongkol, a senior official at the agency.
“We have another meeting next week so they can explain further,” said Passakorn, outlining discussions between the agency and Rever.
Rever, which has a network of more than 100 dealerships across Thailand, said the cash-back campaign was a promotion for old customers and not part of a compensation program.
BYD holds a 20 percent stake in Rever.
The issue came onto the government’s radar this month after Rever made sharp price cuts to its cars, as much as 340,000 baht for some models, triggering complaints from previous buyers of BYD EVs.
Thai Prime Minister Srettha Thavisin asked BYD chief executive officer Wang Chuanfu (王傳福) to ensure that Thai consumers were protected, to which Wang said its pricing would be appropriate.
Shenzhen-list BYD is part of a wave of Chinese automakers investing more than US$1.44 billion to set up new EV factories in Thailand, helped by government subsidies and tax incentives.
Pledged investments from other makers include Changan Auto with US$285 million.
The government aims to convert 30 percent of its 2.5 million vehicle production capacity to EVs by 2030.
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