Which Fil-Chinese family is bankrolling BYD in the Philippines?

It\'s not the Yuchengcos
by Patrick Everett Tadeo | Sep 27, 2013


As we reported a few days ago, there\'s a new Chinese carmaker in the market in the form of BYD. Solar Transport and Automotive Resources, the authorized distributor of BYD vehicles in the Philippines, held a press conference last night to introduce itself and its officers to the public.

If it\'s ironic that a company named Solar is launching gasoline-powered, internal-combustion vehicles in the country, that\'s because it is one of the latest business ventures of the Solar Group of Companies. That\'s right, the company behind Solar Entertainment is the same company behind BYD\'s arrival in the Philippines. In short, it\'s the Tiengs and not the Yuchengcos--as was originally rumored--that brought BYD to the country.

Leading STAR as its chairman is Willy Tieng, one of the three brothers behind the Solar Group of Companies, and overseeing the company\'s operations is his son, managing director Mark Tieng.

STAR is the Solar Group\'s first foray into the local automotive industry, but the company is confident in the younger Tieng\'s experience from helming its real estate arm Solar Resources.

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\"This is a new business for me after SRI so I\'m very eager and very excited about it,\" Tieng said.

Asked what BYD offers that other Chinese car companies failed to give to the public, Tieng was sure in his answer.

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\"What BYD offers are world-class vehicles with high-tech features at reasonable prices,\" he shared.

With BYD the only car brand in the country to offer the remote-control driving technology in its F5 compact sedan at just P1.018 million, would such a feature be enough for you to at least consider the latest Chinese car brand in the market?

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