WHA Industrial Development Public Company Limited, part of WHA Group, Thailand's leading provider of comprehensive logistics solutions, industrial estates, utilities, and digital platforms, has announced the signing of a major land sale agreement with leading electric vehicle manufacturer BYD for 600 rai at WHA Rayong 36 Industrial Estate, the 11th industrial estate of WHA Group in Thailand. This estate is strategically located within the Eastern Economic Corridor (EEC) project. This land sale with BYD, marking WHA's largest deal in 20 years, highlights WHA Group's strategy to support the EEC project and attract target industries (S-curve Industry), particularly in the modern automotive sector.

The land sale agreement was signed by Ms. Jareeporn Jarukornsakul, Chairwoman and CEO of WHA Corporation Public Company Limited, Mr. David Nardone, CEO of WHA Industrial Development Public Company Limited, Mr. Liu Xueliang, General Manager of Sales for Asia-Pacific at BYD Auto Industry Co., Ltd., and Mr. Ke Yu Ping, General Manager of BYD (Thailand) Co., Ltd., during a press conference at the Grand Hyatt Erawan Bangkok, attended by senior executives from both companies.

With support from the Board of Investment (BOI), BYD (Thailand) Co., Ltd. will build a factory for right-hand drive electric passenger vehicles using the latest technology at WHA Rayong 36 Industrial Estate, with production expected to start in 2024, targeting an annual production capacity of 150,000 electric vehicles for export to ASEAN and European countries.

BYD was founded in February 1995 in China and has over 20 years of experience in new energy vehicle manufacturing. In April 2022, the company announced it would cease production of vehicles powered solely by internal combustion engines and focus on battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). On August 8, BYD appointed Rever Automotive Company Limited as its exclusive distributor in Thailand, aiming for first-year sales of over 10,000 units. Rever Automotive Company Limited is a Thai company established by the third-generation heirs of the Siam Klagarn Group.

Ms. Jareeporn Jarukornsakul, Chairwoman and CEO of WHA Corporation Public Company Limited, expressed her gratitude to BYD's executives for their trust in WHA Group for establishing the new electric vehicle factory, stating, "The signing of this land sale agreement is a proud moment and a significant milestone in WHA Group's history, as well as a great achievement for the modern automotive industry in Thailand. We are pleased to welcome BYD to WHA Rayong 36 Industrial Estate, our 11th estate in Thailand, which is equipped with world-class infrastructure and services, excellent facilities, and a strategic location, making it the perfect choice for BYD to expand its business and elevate its multinational status."

"This strategic land purchase further underscores Thailand's strengths in attracting major industrial investors from China and other countries. WHA Group is proud to support the Thai government in achieving its goal of becoming the electric vehicle hub of Southeast Asia, which will help boost economic growth and enhance Thailand's reputation for vision, leadership, and innovation," Ms. Jareeporn added.

Mr. Liu Xueliang, General Manager of Sales for Asia-Pacific at BYD Auto Industry Co., Ltd., stated, "The opening of this new factory abroad at WHA Rayong 36 Industrial Estate marks a significant advancement in our company's expansion." He added, "After thorough research and selection, Thailand and WHA Rayong 36 Industrial Estate have become the perfect choice due to the location and the company's reputation as a leading industrial estate developer in the region. The EEC project and WHA Rayong 36 Industrial Estate offer everything we are looking for: an outstanding location, quality human resources, world-class utilities and services, as well as high-quality transportation and infrastructure. Furthermore, WHA Group plays a crucial role in expanding the automotive cluster in the EEC, all of which are key factors for BYD's investment, and we hope to maintain a long-term good relationship with WHA Group in the future."

WHA Rayong 36 Industrial Estate: A Target Industry Promotion Zone of the EEC

WHA Rayong 36 Industrial Estate is WHA Group's latest industrial estate in Thailand, covering a total area of 1,281 rai, strategically located near Highways 36 and 3375 in Rayong Province, just 25 km from Map Ta Phut deep-sea port, 31 km from Laem Chabang deep-sea port, and 23 km from U-Tapao Airport. Under the concept of an "Intelligent Eco-Industrial Estate," WHA Rayong 36 is equipped with the latest digital technologies and innovations in communication, transportation, security, environmental control, production, and wastewater treatment. Like other WHA industrial estates in Thailand, WHA Rayong 36 is also connected to WHA's Unified Operation Center (UOC) at WHA Tower in Bangna, allowing the company to monitor various environmental conditions such as air quality, water quality, and wastewater in industrial plants, as well as rainfall levels, traffic management, and safety in real-time.

WHA Group and the Expansion of the Automotive Cluster in the EEC

The land sale agreement between WHA Group and BYD (Thailand) represents a significant step towards Thailand becoming the electric vehicle hub in Southeast Asia. Currently, the BOI has approved 26 electric vehicle projects from 17 companies, amounting to an electric vehicle production capacity of 830,000 units. It is anticipated that by early 2024, Thailand will achieve its goal of producing one million electric vehicles, and by 2030, electric vehicles will account for 30% of total vehicle production in Thailand, or 700,000 units per year.