Liu Xueliang, general manager of BYD Asia Pacific auto sales division, speaks during the launching event of DENZA in Bangkok, Thailand, Nov. 1, 2024. (Xinhua/Rachen Sageamsak)

BANGKOK, Nov. 2 (Xinhua) -- Chinese carmaker BYD officially launched its premium brand DENZA in Thailand on Friday in a move to expand its presence in the Southeast Asian country's upscale automotive market.

Narit Therdsteerasukdi, secretary general of the Thailand Board of Investment, emphasized in his opening speech the importance of the entry of the DENZA brand into the Thai market, which marks a milestone in the development of Thailand's electric vehicle (EV) industry.

Narit noted that the debut of the DENZA brand not only reflects the confidence of international brands in the Thai market, but will also inject new impetus into Thailand's economic development. Thailand will continue to support the development of the EV industry and provide a good investment environment for enterprises.

Thailand has long been a regional automotive manufacturing and export hub. With the government's investment promotion efforts, the nation aims to convert 30 percent of its annual auto production into EVs by 2030.

Liu Xueliang, general manager of BYD Asia Pacific auto sales division, said BYD has currently sold 56,000 EVs in the Thai market, adding that the introduction of the DENZA brand is another important strategic plan for BYD after it opened its Thailand factory this year.

As an automotive industry center in Southeast Asia, Thailand has a mature luxury car market. Liu believed that the DENZA brand which combines luxury and sustainable technology will be recognized by Thai consumers.

As a world-leading automobile manufacturer and a pioneer in China's EV industry, BYD has vigorously expanded overseas markets in recent years.

BYD's EVs are currently sold in 88 countries and regions around the world. In addition to Thailand, BYD also has production bases in Brazil, Hungary, Uzbekistan and other countries.