Chongqing – Changan Auto, a leading Chinese carmaker, recently announced via WeChat that it signed a memorandum of understanding with Thailand’s Department of Revenue in Bangkok, becoming the first automaker approved under Thailand’s EV3.5 policy.
Changan Auto became the first EV company to receive Thailand’s EV3.5 policy. (Photo/Changan Auto)
A day before, Zhu Huarong, chairman of Changan Automobile, disclosed at the 2024 Global Partner Conference that the company aims to invest over $10 billion in overseas markets by 2030.
Changan Automobile aims to invest over $10 billion in overseas markets by 2030. (Graphic/ Vivian Yan)
Thailand’s “EV3.5” policy, running from 2024 to 2027, incentivizes electric vehicle (EV) production with up to 100,000 Thai Baht (approx. USD 2,800) subsidies per vehicle.
The country aims to boost local EV production fourfold by 2025, reducing…
