Changan Automobile reportedly advanced as the latest Chinese automaker to confirm plans to establish domestic production of new energy vehicles (NEVs) in Thailand.
Changan announced Thursday that it will invest 8.8 billion baht ($250 million) for the planned local factory.
Notably, this project is part of the company’s effort to solidify its presence in Thailand, which is currently the leading manufacturer and exporter of EVs.
New NEV plant details
Changan aims to hit an initial production capacity of 100,000 NEVs at the new Thailand factory.
As for the second phase, the output would rise by twofold to 200,000 units. Unfortunately, Changan has not yet revealed the official start of the production.
Changan will sell the Thailand-built models in local and foreign markets like the UK, New Zealand, and South Africa.
Changan’s enters the Thai NEV industry
Changan’s s successfully founded its official operating entity in the Asian country on August 23.
Since then, it has boosted its recruitment efforts and the development of a marketing and service chain in the domestic market.
Changan also aims to launch the sale of its NEV models in Thailand by the end of 2023.
On the other hand, its 2030 global targets are as follows:
- Sales of 500,000+ units of two models
- Access over 90% of the global market
- Sales of 300,000+ NEVs in Europe
See Also:
- Is China’s Changan Shenlan SL03 a legit Tesla Modle 3 clone?
- Thailand dominates Asean EV sales with 79% contribution
- Chinese electric automakers already invested $1.44B in Thailand
- Tesla and Chinese automakers pledge to end the price war
- BYD again leads Thailand’s EV sales in February, while Tesla is catching up
All that said, Changan’s new NEV production base in Thailand will substantially aid its efforts in achieving its abovementioned goals. It will boost the automaker’s overall annual production to meet the growing demand for EVs globally.
