The Philippines is being touted as one of the most promising markets for Chinese automotive giant BYD Co., driven by strong consumer demand for new energy vehicles (NEVs).

In a statement on Monday, Aug. 17, BYD Cars Philippines said the chairman and president of the Shenzhen-based conglomerate, Wang Chuanfu, recently visited the Philippines to gain insight into the rapid growth of electrified vehicles in the country.

During his visit, Chuanfu toured several BYD dealerships, showrooms of premium brand DENZA, and ACMobility Charging Hubs.

He also engaged with frontline teams to hear customer feedback directly, which BYD Cars Philippines said reflected the country’s value to the parent firm’s international growth.

“The Philippines has become one of the most exciting and promising markets for [NEVs] in the region,” Chuanfu was quoted as saying.

“We are encouraged by the strong momentum of electrification and by the commitment of our partners at ACMobility to our customers,” Chuanfu added.

ACMobility, the mobility solutions arm of the Ayala Group, is the local distributor of BYD vehicles in the Philippines.

ACMobility Chief Executive Officer (CEO) Jaime Alfonso Zobel de Ayala earlier reported that NEVs accounted for a 22.3-percent share of new vehicle sales in the Philippines as of June.

BYD Cars Philippines Managing Director Bob Palanca said Chuanfu’s recent visit, as one of China’s most influential entrepreneurs, is a “strong vote of confidence” in the potential of the Philippine market.

“As demand continues to grow, we remain focused on expanding our line up to deliver innovative products for every Filipino driver and providing exceptional ownership experience,” Palanca said.

Palanca also said that the visit affirms the continued commitment of BYD and ACMobility to making NEVs more accessible to Filipinos.

“The cost of mobility has long been a pain point for Filipino households, and our view is that [NEVs] address it directly,” said Zobel. “That conviction is what brought us to BYD in 2023, and it is why we have deployed resources across the entire ownership journey, whether that be distribution and retail, charging solutions, or after-sales support.”

Zobel said ACMobility intends to keep expanding its distribution of BYD vehicles so that electrified mobility becomes a practical option for more households in the years ahead.

At present, BYD Cars Philippines has 81 dealerships across the country. - Dexter Barro II