Chinese EV manufacturers have shown interest in investing over $1.44 billion in the production of electric vehicles (EVs) in Thailand.
This comes as Thailand aims to have EVs make up 30% of all vehicles produced in the country by 2030.
Chinese companies, GSC Aion New Energy Automobile and Svolt Energy Technology, have already committed large investments to EV production and battery production in Thailand. The Thai government has been actively promoting investments in the EV industry, offering incentives and benefits to investors from around the world.
The arrival of Chinese manufacturers would help boost the popularity of EVs in Thailand, which is the second largest car market in ASEAN. In the first half of 2023, 31,000 EVs were registered in Thailand, triple the number registered in all of 2022.
Read the rest of Chinese EV manufacturers pour money into Thailand on Thailand Business News