Ayala Corporation has finalized the deal to be the new official distributor of BYD in the Philippines. BYD is the world leader in hybrid and pure electric vehicles, with 30 established industrial parks across six continents. The distribution agreement papers were inked and subsequently disclosed to the Securities and Exchange Commission on August 11, 2023.
“Our long-term vision is for AC Motors to become the leading platform for EVs and other new energy vehicles in the Philippines. This includes building up BYD to become a key brand in the Philippine market, with leading share among EV brands and meaningful presence in the automotive market as a whole,” said Jaime Alfonso Zobel de Ayala, president of AC Motors.
The acquisition of BYD is in line with Ayala Corporation’s goal of accelerating the future of mobility in the country. With the group’s stake in renewable power generation, automotive distribution and dealerships, property development and management, manufacturing, financing and insurance, and digital connectivity – the young Zobel believes that the Ayala portfolio is in a unique position to provide long-term value to customers by providing not just vehicles but complete ecosystems to make the use of new energy vehicles more viable.
For his part, James Ng, managing director of BYD Philippines and Singapore, said, “BYD looks forward to working hand-in-hand with Ayala to promote the development of new energy vehicles industry in The Philippines. Together, we create a greener, more sustainable and brighter future, as we embark on this exciting journey.”
As confirmed by Zobel, Zara will serve as president and CEO of BYD Philippines and will be in charge of building the BYD brand and furthering the Ayala new energy ecosystem.
At the press conference, Zara confirmed that aside from continuing to offer BYD’s existing nameplates, the Han (sedan), Tang (SUV), and Dolphin (subcompact hatch), their group will be introducing the ATTO 3 compact SUV towards the end of the year. The ATTO 3 is a highly-awarded EV model that is recognized globally for its outstanding design, comfort, quality, practicality, and performance. It will be the most affordable vehicle among the company’s fully electric offerings. According to Zara, with BYD, they will be able to offer fully electric vehicles at prices more Filipinos can afford.
BYD currently has two dealerships in Metro Manila. The new company plans to expand to around 12 fully operational facilities by the end of 12 months and eventually grow this number to 40 outlets around the country. On the infrastructure side, the group will continue to add more charging stations in the public (malls) and private (condominiums, residential developments) properties that are owned and managed by Ayala Corporation and its subsidiaries.