SUSCO Expects Higher Growth with a Boost from BYD Distribution

Rever Automotive, the sole Thai distributor of BYD since late 2022, is said to triple its dealerships in Thailand in two years, as it helps the Chinese automaker hold its spot as a top contender in the overseas market.

Mr. Pratarnwong Phornprapha, CEO of Rever Automotive, told Reuters that the company will increase 200 dealerships by the end of 2025, which will bring the company into new car segments and broaden its commercial vehicle offerings.

BYD has advanced itself on top of Tesla in 4Q23 by delivering 526,409 EVs over Tesla’s 484,507, as the expansion of the business in Thailand emphasizes its focus on being the world’s top EV maker despite the sluggishness of EV sales growth in China.

Rever Automotive partnered with Susco Beyond, a wholly-owned subsidiary of Susco Public Company Limited (SET: SUSCO), as they benefited from the growing EV market and the promotion of the vehicle by the Thai government.

Susco last year stated that it planned a THB 400 million budget for use between 2023 and 2027 by building 10 new petrol stations and renovating 30 existing stations, for an amount of approximately THB 200 million. The remainder will be spent on the construction of BYD showrooms and the installation of rooftop solar panels at petrol stations.