Ayala is to BYD as SM is to Hyundai IONIC
BYD, the world's largest electric vehicle (EV) manufacturer, has partnered with Ayala Corporation, one of the largest conglomerates in the Philippines, to offer a range of EVs in the country. The partnership aims to accelerate the country's transition to sustainable mobility and technological innovation.
BYD Philippines currently offers four EV models: the luxury executive sedan BYD Han, the spacious 7-seater family SUV BYD Tang, the compact hatchback BYD Dolphin, and the minivan BYD T3. The company plans to introduce another highly awarded EV model, the BYD ATTO 3, by the end of the year. These vehicles are available in 12 dealerships across four cities in the Philippines: Manila, Makati, Quezon City, and Cebu. BYD Philippines also intends to establish 40 outlets in five years, expanding its presence to other regions such as Davao.
Ayala Corporation is the exclusive distributor of BYD passenger vehicles in the Philippines. The company brings a range of critical assets to the partnership, such as expertise in renewable power generation, automotive distribution and dealerships, property development and management, manufacturing, financing and insurance, and digital connectivity. These assets form a robust ecosystem that supports the growth and adoption of EVs in the country.
One of the key initiatives of the partnership is to roll out EV charging stations inside Ayala Mall parking lots. This will provide convenience and accessibility for EV owners and encourage more consumers to switch to EVs. The charging stations will be compatible with BYD vehicles as well as other brands of EVs.
With Ayala partnering with BYD, it is possible that other EV manufacturers will seek alliances with other property developers in the Philippines. For instance, SM Malls could become an exclusive distributor or partner of Hyundai, which also offers EVs such as the Kona Electric and the Ioniq Electric.
Compared to Tesla, which is known for its premium-priced EVs, BYD offers more affordable options for Filipinos who want to purchase an electric vehicle. For example, the BYD Dolphin has a starting price of $10,700, while the Tesla Model 3 costs around $33,500. BYD also has an advantage in producing its own batteries and chips, which lowers its production costs and increases its supply chain security.
However, BYD still faces some challenges in penetrating the Philippine market. One of them is the readiness of Filipinos for EVs, which depends on factors such as infrastructure availability, consumer awareness, government policies, and social norms. Another challenge is the reputation of BYD as a reliable EV maker that will earn the trust of Filipinos. Although BYD has a long history of producing EVs and has received recognition from global investors such as Warren Buffett, it still needs to overcome the perception that Chinese cars are inferior in quality and safety.
BYD is determined to conquer the world markets as the un-Tesla. By offering a diverse portfolio of EVs that are affordable, efficient, and innovative, it hopes to attract more customers and become a global leader in electrified transport. The partnership with Ayala Corporation is a strategic move that will help BYD achieve its vision in the Philippines and beyond.
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