AYALA Corp. has finalized the deal as the new official distributor of BYD vehicles in the Philippines. BYD is a 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 Aug. 11, 2023.

Representing the Ayala Group to announce the new venture were AC Motor's new president, Jaime Alfonso Zobel, and AC Motors Automotive Group's former president and now head for distribution and retail, Antonio 'Toti' Zara. Representing BYD were Liu Xueliang, general manager of BYD Asia Pacific Auto Sales Division and president of BYD Japan, and James Ng, the managing director of BYD Philippines and Singapore.