BYD to invest $1.3 billion in Indonesia to build auto factory

BYD plans to invest US$1.3 billion (about RMB 9.373 billion) to build an automobile factory in Indonesia, with an expected production capacity of 150,000 vehicles. In addition, BYD also plans to set up up to 50 sales outlets across Indonesia by the end of 2024. This move highlights BYD's strong interest in the North American market and also reflects the positive attitude of Chinese companies in their global layout.