Changan Automobile Southeast Asia Co., Ltd. officially signed the contract in Bangkok on the 26th

Great Wall Motors, BYD Auto and Neta Auto have successively chosen to establish manufacturing facilities in Thailand. On the 26th of this month, Changan Automobile Southeast Asia Co., Ltd. formally signed an agreement in Bangkok. The company will undertake an initial investment of 8.862 billion baht in Thailand to establish an industrial base with an annual production capacity of 100,000 electric vehicles, and plans to establish a research and development centre in the country.

To this end, Changan has acquired land from Thailand’s WHA Group in Zone 4 of the Rayong East Coast Industrial Estate. This site will host a new industrial base for new energy vehicles, producing electric cars for markets including ASEAN nations, Australia, New Zealand, the United Kingdom and South Africa.

The land purchase agreement signing ceremony took place on the morning of the 26th in Bangkok, presided over by Zhang Xiaoxiao, Counsellor of the Economic and Commercial Section of the Chinese Embassy in Thailand. The agreement was signed by Mr. Virawut, Director of WHA Industrial Development Co., Ltd., and Mr. Guan Xin, General Manager of Changan Automobile Southeast Asia Co., Ltd. Witnesses included Zhang Xiaoxiao, Ms. Chalipong, Chief Executive Officer of Vihua Group Public Company Limited, and Mr. Shen Xinghua, Managing Director of Changan Automobile Southeast Asia Co., Ltd., among others.

According to Thailand’s Board of Investment (BOI), at least seven Chinese new energy vehicle brands have invested in Thailand in recent years, with cumulative investment reaching US$1.4 billion. Furthermore, the BOI has approved 23 electric vehicle-related investment projects from 16 enterprises.

Thailand has set a target that by 2030, at least 30% of all vehicles produced domestically will be new energy vehicles, equating to an annual production of 725,000 electric vehicles.