Tesla has cancelled plans to set up an EV factory in Thailand, Malaysia or Indonesia and will instead just focus solely on setting up charging stations. This is according to The Nation, which quoted a source from the Thai government.
The decision to scrap ASEAN factory plans follows a layoff of the team of Tesla executives that visited Thailand late last year. “Tesla is currently only discussing charging stations, with the factory plans suspended not just in Thailand but worldwide. They are not proceeding in Malaysia, Indonesia, or anywhere else except for China, America, and Germany,” the source told the English-language publication.
Thai prime minister Srettha Thavisin declared in November 2023 that Tesla was set to make Thailand an EV manufacturing hub, saying so after he held several meetings with Tesla executives, both in Thailand and the US. Srettha also toured Tesla’s Fremont factory went he went to the US for the 30th APEC Economic Leaders’ Meeting in November (pics below).
Back in Thailand, Srettha and Pheu Thai party leader Paetongtarn Shinawatra, daughter of Thaksin, hosted senior Tesla executive Rohan Patel at the Yi Peng festival in Chiang Mai in the same month. He was then reported as saying that the Elon Musk-led carmaker was surveying three potential factory sites in the kingdom and was expected to announce investments of over US$5 billion (RM22.5 billion) in Q1 2024.
According to the government source, Tesla has decided to cancel such plans and has disbanded that particular executive team. The decision is part of the EV specialist’s withdrawal of investment across Asia and beyond. So, the ASEAN race to lure Tesla’s business for both economic and bragging rights reasons is over, but was Tesla’s plan to build in our region that serious in the first place?
A gigafactory that has been left hanging is Mexico, even though that one – unlike ASEAN – was official. First announced in March 2023, the project has faced delays and uncertainty, among them US presidential candidate Donald Trump’s pledge to impose a 100% tariff on cars made in Mexico, which is seen as a tax-free backdoor. In October 2023, Tesla confirmed it had paused the project due to economic concerns.
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AI-generated Summary ✨
Comments express mixed reactions to Tesla's plans in Malaysia and ASEAN, with skepticism about the government's incentives and promises of factory investment, suggesting many believed Tesla had no real intention to build a factory here. Several commenters feel the government was easily duped or conspired with Tesla for false promises, highlighting that Tesla's presence in Malaysia is more about market positioning than actual manufacturing plans. There is criticism of Tesla prices and capricious strategies, with some advocating for local alternatives like Proton's EVs or BYD. Overall, sentiments are largely negative, emphasizing that Tesla's promised investments are unlikely to materialize, and the government's dealings with Tesla amounted to a scam or a con. Many see Tesla as struggling globally, and comments reflect disbelief that Malaysia or ASEAN will benefit significantly.