Thailand's Ongoing Probe into BYD EV Pricing Amid Consumer Backlash

Thailand's investigation into discounts from China's BYD continues despite a cash-back programme by its distributor, Rever Automotive. This follows consumer complaints of overpayment for their EVs. The probe, led by the Consumer Protection Board, comes after significant price cuts by BYD, prompting the Thai government to seek consumer protection assurances from BYD.

Thailand's probe into discounts offered by China's BYD, despite a cash-back programme from its distributor Rever Automotive, will carry on, according to a senior official. The country, an auto assembly and export hub, is BYD's largest overseas market.

Rever Automotive recently introduced a cash-back initiative and discounts at charging stations until March 2025. Between July 18 and late August, existing BYD customers can claim up to 50,000 baht ($1,382) on future purchases of the ATTO 3 or BYD Seals models, the company announced on Facebook.

However, Thailand's Consumer Protection Board continues its investigation, with over 100 new complaints, stated senior official Passakorn Thapmongkol. The agency has scheduled a discussion with Rever to address these issues next week.

Rever clarified that the cash-back campaign is a promotion for existing customers, not compensation. BYD holds a 20% stake in Rever.

The issue arose after Rever slashed prices by up to 340,000 baht ($9,400) for some models, sparking complaints from earlier buyers. Prime Minister Srettha Thavisin requested BYD CEO Wang Chuanfu to protect Thai consumers; Wang assured ongoing appropriate pricing.

BYD, listed in Shenzhen, is part of a Chinese automaker wave investing over $1.44 billion to set up EV factories in Thailand, supported by government incentives. The Thai government aims to convert 30% of its 2.5 million vehicle production capacity to EVs by 2030.

(With inputs from agencies.)