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Tesla to expand in Thailand amid 380% increase in electrical vehicle registrations
Tesla is in talks with the Thai government to build a new factory for manufacturing and exporting electric vehicles, as part of its expansion plans in Thailand.
Tesla is in talks with the Thai government to build a new factory for manufacturing and exporting electric vehicles, as part of its expansion plans in Thailand.
Key Takeaways
- Tesla plans to expand its presence in Thailand and is negotiating with the government to establish a new factory for producing and exporting electric vehicles in the region.
- Thailand has experienced a significant increase in electric vehicle registrations, with a 380% growth in new registrations for electric cars in 2023 compared to the previous year.
- The Thai government is actively promoting investment in the electric vehicle industry, partnering with global automakers and setting ambitious goals for the share of zero-emission EVs in domestic vehicle production by 2030.
According to Prommin Lertsuridej, secretary general to the prime minister, the company is negotiating with the Thai government to establish new factory in Thailand
The official revealed that the Thai government has proposed a 100% green facility for Tesla, where the company will be able to produce and export its vehicles to other regional markets. The official also added that the company is in talks; no deal has been finalized yet.
Prommin said Tesla’s potential expansion into Thailand could boost the country’s EV industry and create more employment and investment opportunities.
Thailand’s electric cars landscape
Thailand is a major hub for the automotive industry in Southeast Asia, hosting many global car makers such as Toyota, Honda, Nissan, and Ford. The country also offers various incentives to electric vehicle (EV) makers, such as tax breaks, low-interest loans, and free land.
Last month, the Electric Vehicle Association of Thailand (EVAT) published a summary of the EV landscape, showing the progress and growth of electric mobility in the country.
The summary showed that the number of new registrations for Battery Electric Vehicles (BEVs) in electric cars reached 76,366 units in 2023, up from 9,678 units in the previous year. In total, new registrations for EVs of different types increased to 100,219 units in 2023, showing a growth of 380% compared to the 20,816 units registered in 2022.
The BEV car category demonstrated significant growth, increasing from 32,081 units in 2022 to 131,856 units in 2023, representing a 311% growth.
During the last few years Tesla has grown its global presence, with factories in the United States, China, and Germany. The company also plans to enter the Indian market, where it has registered a local subsidiary.
Thailand is one of the leading countries in Southeast Asia for electric vehicle (EV) sales and production. The country has set an ambitious goal to increase the share of zero-emission EVs to 30% of all domestic vehicle production by 2030.
The government has partnered with several global automakers to promote investment in Thailand’s EV industry. For example, Toyota has announced plans to produce hybrid electric vehicles and batteries in Thailand, with an investment of 19 billion baht (about $570 million).
GAC Aion, BYD, and Hozon Auto from China have also set up plants in Rayong Province, with a combined capacity of 150,000 vehicles annually. These investments will help Thailand develop a local supply chain for EV components, especially batteries, which are crucial for reducing the costs and increasing the performance of EVs.
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