Development of the electric car market in Thailand: launch of production of innovative cars by the Chinese giant

Great Wall Motor has launched production of eco-friendly electric cars at its new plant in the Thai province of Rayong. This was a significant event for the entire auto industry in Southeast Asia. The Chinese auto giant plans to make Thailand one of the key hubs for the production and sales of innovative electric vehicles in the Association of Southeast Asian Nations (ASEAN).

Leadership strategy in a promising market

Great Wall Motor announced a whopping 22 billion baht investment back in 2020 to build green electric car production facilities and develop renewable energy in Thailand. Over the past three years, the concern has developed 9 new electric car models to strengthen its position in the Thai and the entire Asean market.

As emphasized by Great Wall Motor's top manager Narong Sritalayon, the launch of production in Rayong is a new milestone in the company's history. As early as January 2024, sales of Thai-built electric cars will begin. A detailed business plan outlining the amount of investment and new models to be produced in Rayong is expected to be announced in February.

Government support and tax incentives

To stimulate demand for green vehicles, the Thai government has launched the EV3.0 program. It provides tax incentives and subsidies to manufacturers that localize the production of electric vehicles in the country in 2024.

Thanks to large-scale investments Great Wall Motor was able to participate in EV3.0. Already from this year, the new plant will start producing Ora Good Cat models. Thai-built electric cars will cost buyers 100 thousand baht cheaper than imported counterparts from China.

Prospects for increasing production

The capacity of Great Wall plant in Rayong is designed to produce 120 thousand cars annually. At the initial stage, the company plans to produce 80 thousand electric cars per year. Already in 2023, 8 thousand Ora Good Cat of three modifications came off the assembly line.

The concern intends to participate in the next phase of the state program EV3.5 for 2024-2027. This will allow to increase capacity and strengthen Great Wall Motor's leadership in the ASEAN electric transportation market.

Thus, the launch of production of innovative electric cars opens new prospects for the Chinese auto giant to develop its business in Southeast Asia. With the support of the Thai government, the company plans to increase production of eco-friendly vehicles to meet the growing demand for clean transportation in the region.