On August 16th, the Thailand Board of Investment (BOI) announced that Changan has applied to build an electric vehicle and hybrid vehicle factory in Thailand. The investment is worth ฿8.8 billion(approximately ＄24.6 million at current exchange rates), with an initial annual production capacity of 100,000 vehicles.
According to the official website of BOI, Changan’s new factory in Thailand will produce Battery Electric Vehicle (BEV), Range Extended Electric Vehicles (REEV), and Plug-in Hybrid Electric Vehicles (PHEV). These vehicles will be sold in Thailand, as well as export markets including ASEAN countries, Australia, New Zealand, the United Kingdom, and South Africa. In addition, Changan plans to establish an important component research and development center here for future automotive development.
The Secretary-General of BOI, Narit Therdsteerasukdi, revealed that the application was made after leading a BOI visit to Chongqing at the end of June and meeting with Zhu Huarong, Chairman of Changan, and the company’s management team. Narit stated that Changan Automobile has been exploring investment opportunities in Thailand since 2020 and has subsequently held frequent discussions with BOI. The company plans to launch electric vehicle models in the Thai market by the end of this year and then commence local production.
In order to attract investments, BOI will provide incentive measures that cover all types of electric vehicles and a wider range of zero-emission vehicles, including the manufacturing of 17 key components such as batteries, platforms, and complete vehicles, as well as investments in charging stations.