Chinese car manufacturers are set to boost the production of electric vehicles (EVs) in Thailand this year by locally manufacturing a significant portion of the vehicles. According to the Board of Investment (BoI), BYD and GAC Aion will commence EV production in the third and fourth quarters, with Changan Automobile joining the local EV assembly process in the upcoming year.
BYD plans to manufacture 150,000 EVs annually, GAC Aion targets 50,000 EVs per year in the initial phase, and Changan Automobile intends to produce 100,000 EVs annually. Additionally, they will also manufacture battery-run sports utility vehicles. Great Wall Motor (GWM), Neta, and the Thai-Chinese joint venture SAIC Motor-CP have already initiated electric car production in their Thai facilities.
The ambition is for Thailand to become a regional hub for EV production through the expansion of EV manufacturers and the development of EV supply chains for auto parts in the local market. To further encourage the growth of the EV industry, the BoI is offering investment incentives to businesses involved in EV-related sectors such as battery production and EV charging infrastructure.
In the past few years, the BoI supported investments worth 80 billion baht in the electric car industry, resulting in total EV production of 400,000 units. This was discussed at the “BoI Symposium: EV Supply Chain Edition,” where various key EV producers from China participated.
Chinese EV manufacturers have pledged to source EV components locally, with up to 90% of the total EV components expected to be of local origin. Changan Automobile plans to invest up to 10 billion baht in Thailand, moving from an initial local content proportion of 60% to 90% in the future. Similarly, GWM aims to procure 80-90% of EV components from local sources, highlighting their commitment to supporting Thailand’s EV industry.
