Leading Chinese EV leaders recently outlined a comprehensive strategy to position Thailand as a global center for electric vehicle (EV) manufacturing. This vision was shared during the ‘BOI Symposium: EV Supply Chain Edition,’ hosted by Thailand’s Board of Investment (BOI) at the ‘SUBCON Thailand 2024’ exhibition in Bangkok. The event marked a significant gathering of seven top EV producers—BYD, MG, Great Wall Motor, NETA, Changan, GAC Aion, and Omoda & Jaecoo—who collectively presented their plans for integrating Thailand into the global EV production landscape.
Over 1,500 Thai component manufacturers attended the symposium, indicating strong local interest and potential for substantial industrial collaboration. Narit Therdsteerasukdi, BOI secretary-general, underscored the importance of this initiative, noting that three Chinese automotive manufacturers currently operate EV production facilities in Thailand, with additional plants set to commence by Changan in early 2025.
This expansion is poised to significantly boost demand for domestically produced components, offering a major leap for Thailand’s industrial capabilities in the EV sector. Narit highlighted the symposium as a pivotal opportunity for local manufacturers to gain insights into EV development and component procurement plans from leading automotive executives.
“It creates opportunities for business linkages and elevates Thailand’s electric vehicle industry supply chain to a strong position, becoming a crucial manufacturing base for the future global automotive industry,” Narit stated.
Investment incentives provided by the BOI for 17 EV-related items have already attracted significant capital. Recent investments include 40 billion baht directed towards 18 battery electric vehicle (BEV) plants, contributing to Thailand’s current annual EV production capacity of 400,000 units. All seven automakers have affirmed Thailand as their primary production base in ASEAN.
Executives from participating companies shared their strategic visions and commitments. Ma Haiyang from GAC Aion spoke of the company’s investment plans in manufacturing and distribution networks, both within Thailand and internationally, emphasizing collaboration with local manufacturers to develop high-quality products for regional markets. Yubin Ke from BYD mentioned the company’s strategy to increase the local component sourcing in its Thai operations, which already exceed 40%, aiming to enhance the ‘Made in Thailand’ brand.
Shen Xinghua, chairman of Changan, detailed plans to transform Thailand into an ASEAN hub for manufacturing, sales, and research and development, eyeing a substantial investment of around 10 billion baht. Qi Jie of Omoda & Jaecoo and Suroj Sangsnit from SAIC Motor-CP, producing MG cars, expressed their dedication to fostering collaborative relationships with Thai suppliers, aiming to amplify both local and global EV production chains.
This concerted effort by Chinese automakers highlights Thailand’s strategic significance in the EV market and heralds a new era of sustainable manufacturing and technological innovation in Southeast Asia.
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