While sales of electric vehicles (EVs) have been good this year, manufacturers -- most notably Chinese automakers -- have also marked a new chapter for Thailand's auto industry through significant investment projects.
Great Wall Motor (GWM), MG, BYD and Neta are all building their brands in Thailand, together with plans to secure market share, develop production facilities and use the country as their export base, according to Surapong Paisitpatanapong, vice-chairman and spokesman for the Federation of Thai Industries' Automotive Industry Club.
The Neta brand has the ability to make its competitors stand in awe in terms of the business direction of its manufacturer, Hozon New Energy Automobile, said Mr Surapong.
The Zhejiang-based maker, which launched the Neta V city car in August, announced it would cooperate with national oil and gas conglomerate PTT Plc to assemble electric autos in Thailand.
Arun Plus Co, wholly owned by PTT, and the Taiwan-based Hon Hai Precision Industry Co, a multinational electronics manufacturer, co-established Horizon Plus in order to oversee their EV assembly business.
Auttapol Rerkpiboon, president and chief executive of PTT, said PTT would initially help car companies with EV production, rather than spend a huge amount setting up a full-fledged facility to make EVs under a new brand.
A car assembly plant, valued at $1-2 billion, has been designed to have a production capacity of 50,000 units annually.
Other Chinese companies have also come up with multi-billion baht projects.
Chinese automaker BYD announced a 17.8-billion-baht investment to build an EV manufacturing facility in Rayong, with annual production capacity of 150,000 vehicles.
The company has also boasted about its blade battery technology which it claims ensures greater safety while driving.
MG Sales said the company has invested more than 2.5 billion baht to build an EV battery manufacturing plant in Thailand.
GWM earlier announced it would spend 22.6 billion baht to turn Thailand into its regional base for EVs.
