By Panarat Thepgumpanat and Chayut Setboonsarng
BANGKOK (Reuters) – A Thai investigation into rebates at China’s BYD will continue despite a cash-back program run by the distributor, in response to backlash from consumers who felt they had paid too much for its electric cars, a senior official said on Friday.
Thailand, a regional auto assembly and export center, is BYD’s largest overseas market, where it is the top-selling electric vehicle brand. BYD opened a factory in Thailand last month, its first in Southeast Asia.
BYD’s Thai distributor, Rever Automotive, this week announced a cashback program and discounts on charging stations until March 2025.
Existing BYD customers can get up to 50,000 baht ($1,382) in cash back on their next purchase of the ATTO 3 or BYD Seals models from July 18 to the end of August, Rever said in a Facebook post.
But the Thai Consumer Protection Council’s investigation continues and new complaints are coming in, now numbering more than 100, said Passakorn Thapmongkol, a senior official at the agency.
“We have another meeting next week so they can provide more explanation,” Passakorn told Reuters, giving an overview of the talks between the agency and Rever.
Rever, which has a network of more than 100 dealers in Thailand, did not immediately respond to an email from Reuters seeking comment.
BYD has a 20% stake in Rever Automotive.
The issue came to the government’s attention this month after Rever slashed prices on its cars, to as much as 340,000 baht ($9,400) for some models, prompting complaints from previous buyers of BYD electric cars.
Prime Minister Srettha Thavisin asked BYD CEO Wang Chuanfu to ensure Thai consumers were protected. Wang assured the prime minister that future prices would be appropriate.
BYD, a member of the Shenzhen list, is part of a wave of Chinese automakers investing more than $1.44 billion to set up new EV factories in Thailand, helped by government subsidies and tax breaks.
Other manufacturers have invested in Changan Auto, among others, worth 285 million dollars.
The government aims to convert 30% of the production capacity of 2.5 million vehicles to electric vehicles by 2030.
($1 = 36.1900 baht)
(Reporting by Chayut Setboonsarng and Panarat Thepgumpanat; Editing by Martin Petty)
