ELECTRIC vehicles manufacturer from China are pouring investments into Thailand.
Chinese manufacturers have pledged to invest $1.44 billion in production facilities in Southeast Asia’s biggest automaking hub.
The government of Thailand has supported the new wave of investment through incentives and partnerships with Chinese firms.
Thailand is targeting to convert about 30% of the country’s annual vehicle production into electric vehicles (EVs) by 2030.
Thailand is the second-largest car market in Southeast Asia and the biggest automaking hub in the region.
Japanese companies have long dominated Thailand but the influx of Chinese models helps in boosting the popularity of EVs in the country.
According to the Thailand Board of Investment (BOI), 31,000 EVs were registered in Thailand in the first half of 2023, more than 3 times the number for all of 2022.
