July 10 (Reuters) – Chinese electric vehicle manufacturers are pouring into Thailand, having committed to invest $1.44 billion in production facilities in Southeast Asia’s biggest automaking hub that has long been dominated by Japanese companies.
This new wave of investment has been backed by Thailand’s government, which has rolled out incentives and courted Chinese firms, with a target to convert about 30% of the country’s annual vehicle production into EVs by 2030.
INVESTMENTS UNDERWAY
China’s Great Wall Motor (601633.SS) made an early punt on Thailand in 2020 when it acquired a factory from General Motors (GM.N), where it will spend 22.6 billion baht ($647.38 million) turning it into a regional production centre for EV and hybrid cars.
The automaker will start producing its popular compact Ora Good Cat EV in Thailand next year, and is also bringing in its subsidiaries MIND…
