Posted on 18 Nov 2022
Chinese automaker Great Wall Motor plans to increase its investment in Thailand in order to keep its leading position, according to Nikkei Asia.
Narong Sritalayon, managing director for GWM Thailand, told the Japanese paper that since the company entered the Thai market two years ago, it has invested THB 12 billion ($333.11 million) to produce electric vehicles.
“We plan to invest a total of THB 22.6 billion in Thailand. We will produce not only EVs but also parts and EV infrastructure in order to push Thailand toward becoming the EV production hub of [the Association of Southeast Asian Nations],” he is quoted as saying.
Great Wall Motor’s sales volume has been dominating the Thai EV market so far, and the company thinks it’s necessary to keep up with the upcoming more intense competition brought by the country’s government support and openness in this industry.
Narong Sritalayon disclosed that the company will launch four new EV models next year, Kallanish notes. The company also plans to increase EV fast-charging stations to 12,000 countrywide by 2030.
“We aim to set up our plant in Rayong to be a smart factory and an EV production hub of ASEAN. So far it has an annual capacity of 80,000 units/year. Around 60% of production would be for domestic sales with the remaining 40% for export. We will stay firm on [our] goal to be the leading EV producer in Thailand. So, we not only produce EVs, but we will also build an EV ecosystem and infrastructure to help boost sustainable demand,” he concludes.
Source:Kallanish
