THAILAND secured $4.3 billion worth of investments from Japanese carmakers to help the country in its transition to renewable energy through the production of electric vehicles.
A spokesman for the Thai government revealed that Toyota and Honda are expected to invest 50 billion baht each.
Meanwhile, Isuzu will put up 30 billion baht and Mitsubishi 20 billion baht.
The automakers will start manufacturing electric vehicle pickup trucks within two to three years.
The government also announced planned tax incentives to help automakers produce EVs in Thailand.
Thailand aims to become an EV hub in the Southeast Asian region and set an ambitious target to increase electric vehicle (EV) production by 30% by 2030.
The initiative supports Thailand’s goal to reach carbon neutrality by 2050 and net zero emissions by 2065.
Thailand’s Prime Minister Srettha Thavisin, a businessman-turned-politician, secured the investments after he visited Japan earlier this month.
