Philippines’ Ayala Group Takes Over BYD Distributorship
In what appears to be a silent takeover, AC Motors, the automotive subsidiary of the Ayala Corporation, is now the distributor of BYD in the Philippines, fueling speculations among the business community about the conglomerate’s completion of its full EV ecosystem.that although a formal announcement of the takeover will be made on August 11, the changeover has already been done. The current distributor, Solar Transport and Automotive Resources Corp.
ASEAN automotive experts in the region, however, said that BYD could still locate in the Philippines.Anothersource from Vinfast commented that in BYD’s pursuit of the ASEAN EV market, Vietnam and the Philippines are favorable locations because both countries are left-hand drive markets, compared to Indonesia and Malaysia being right-hand drive.
“Ayala can easily convince BYD that they are the best partner in the region when it comes to assembly and distributorship,” Gregory E. Bautista, an automotive journalist and statistician who keeps an eye on the growth of the Philippine car business. “They also are becoming a younger company, AC Motors’ new CEO is very young.”
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