Chinese electric vehicle (EV) manufacturers have committed to invest USD1.44 billion (around RM6.7 billion) to set up production facilities in Thailand, Reuters reports. This influx of foreign investment is spurred on by incentives provided by the Thailand government to bolster the local EV industry – the country is aiming for EVs to make up 30% of annual vehicle production by 2030.
Great Wall Motor (GWM) is one of several Chinese EV makers to make headway in Thailand after it acquired a factory in Rayong from General Motors (GM) in 2020 and will spend 22.6 billion baht (around RM3 billion) to turn it into a regional production centre for EV and hybrid cars.
Starting next year, the Ora Good Cat will be produced at GWM’s Rayong plant, and the company will also bring in its subsidiaries MIND Electronics, HYCET and Nobo Auto to make electronics, powertrains and seating.
Meanwhile, SAIC Motor, which owns MG Motor, is partnered with Thailand conglomerate Charoen Pokphand Group and is investing 500 million baht (around RM66.9 million) to expand its existing plant to produce EV parts and batteries.
Another Chinese EV maker investing in Thailand is BYD, which is putting up 17.9 billion baht (around RM2.4 billion) for a new facility in Rayong, which is expected to roll out 150,000 cars annually from 2024 for domestic and export markets. In May this year, China’s Hozon New Energy Automobile and Bangchan General Assembly inked an agreement that will see production of the Neta V commence in Thailand beginning next year.
According to the Thailand Board of Investment (BOI), further deals are in the pipeline, with Changan Automobile set to invest 9.8 billion baht (around RM1.3 billion) to set up its first right-hand drive EV factory outside of China.
Other brands on their way in include Aion – a subsidiary of Guangzhou Automobile Corporation (GAC) – that will invest 6.4 billion baht (around RM857 million) to produce EVs in Thailand, while Chery Automobile is said to enter the market next year with “strong interest” in investments. Geely is also in the midst of evaluating EV models for import and local manufacturing.
At present, Thailand is a big market for EVs in Southeast Asia with 51,000 units sold in 2022. In the first half of 2023, over 31,000 EVs were registered in Thailand, no doubt helped by government subsidies to narrow the price gap between EVs and combustion engine cars.
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There is no EV manufacturers willing to invest and open factory in Malaysia due to our useless government.
No thanks to Bapa Automotif Thailand for making Rayong the Detroit of Asia.
Meanwhile after both PH gomen chased away Chinese investments.
Do you want to know why Thailand got so many EV investments from China? Because they don’t have PH and formula man.
Anwar gembira, rakyat sengsara
Anwar di Sg Buloh, rakyat sorak kali sepuloh
Well done to our neighbour, Thailand. It seems like our politicians can learn something from them.
They can but some people here care more about ketuanan issues
Jangan lupa isi borang keahlian DAP
You’re right sir. DAP need more people like him.
because of your multiple split personality disorder.
‘Coming soon one usd five ringgit’ = ‘Hang Tuah’ = ‘Eng Guan Lim’
Semua pakai avatar image yg sama.
Ketuanan sentiments and the likes are the work of weak individuals. When people have no capability, they will use this
1) Military coup installed government managed to unveil an EV roadmap in 2021 despite the pandemic.
2) Despite progress in the EV industry investments, the military coup leader who wanted to turn into a politician, lost in the recent election.
Conclusion: Quicker EV roadmap & EV industry investments can’t guarantee victory in an election.
Conclusion: if this 6 PRN don’t replace this useless Gomen, we need to have a military coup for this country to start moving forward again. 5 years of changes had made us stagnate.
Thought ‘Angry Voters’ is a loyal citizen but turns out is not after this person tried to incite a military coup which is against the constitution. Up to paultan.org to report this person.
I will screenshot his comment and report to PDRM. He only wants his side to be in government. Confirm makan dedak.
In malaysia CHINA have to face with hostile Malays
WORST they WILL sabotage CHINA Cars
Jangan lupa isi borang keahlian DAP
sebab dia ialah ahli bendera merah lima bintang tanah besar.
I’m just wondering what our automotive industry would look like if there are no national car brands to protect.
Then feels messy, Spare parts mahal, etc,
Consumers lagi suffer, semua barang import,
We no export, Malaysia boleh jadi Malaysia tak boleh
They didn’t spend RM 6.7 Billion just to setup shop for selling cars.
They put in an ecosystem including parts manufacturing and car assembly plants to support their car sales. Spare parts made locally are far much cheaper than Japanese car branded parts imported from Indonesia.
what if we end up like Brunei, Vietnam or Cambodia?
Vietnam now is finally growing with thier VinFast.
Vinfast cars only their top 1% could afford, how is that helping their automotive national agenda?
Shah Alam would become Detroit of Asia instead of Rayong, Thailand.
Lmao Malaysia got so much holiday , excuses la , wife pregnant la , more benefits la .if I am the investor sure I go elsewhere . Why want to invest low productive country and it doesn’t cause by government just the dreaming rakyat kill themself
Damn, Malaysia should enact policies to encourage investment from other carmakers instead. We have the expertise, the manpower, but we’re just lacking effective policies.
ARE cars from UMW Shah Alam or DRBH Melaka alot better than Proton
What? Late for the party again!
We are gonna be the bangla or filipo equivalent labourers in the region very soon. Its written very clearly on the wall already. Once our OKU group of people realized it when the dust settles, its game over already. We are doomed
RM6 billion too small compare to RM170 billion..PMX say lah