RAYONG, Thailand — China's carmaker BYD opened its Thailand plant on Thursday, as its 8 millionth new energy vehicle (NEV) rolled off the assembly line in the factory, marking a milestone in the company's overseas expansion.

Located in the eastern Rayong province, BYD's Thailand plant completed its construction in just 16 months. With an annual production capacity of 150,000 vehicles, the plant's car making operation covers stamping, painting, welding, final assembly, and producing car components.

Under the government's investment promotion efforts, the country aims to produce EVs for 30 percent of all vehicles in the country by 2030

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As a world-leading automobile manufacturer and a pioneer in China's EV industry, BYD's investment in Thailand, along with its advanced production technology, will drive the development of the EV industry in Thailand and across the Association of Southeast Asian Nations (ASEAN) region, according to Thailand's Minister of Industry Pimphattra Wichaikul.

Thailand has long been a major automobile production base in ASEAN. Under the government's investment promotion efforts, the country aims to produce EVs for 30 percent of all vehicles in the country by 2030.

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Wang Chuanfu, chairman and chief executive officer of BYD, expressed gratitude to Thai customers and said the company aims to launch more pure electric and plug-in hybrid models in Thailand while promoting the upgrading of the country's automobile industry chain.