Changan Automobile plans to invest 88 million baht in Thailand, aiming to build a first-phase project with an annual production capacity of 100,000 vehicles

The Thailand Board of Investment (BOI) issued a statement on August 16, announcing that Changan Automobile has submitted an application to build a new factory in Thailand to produce electric vehicles and hybrid vehicles. The investment amount is expected to reach 8.8 billion baht (approximately 1.813 billion yuan). This move is seen as injecting new impetus into the Thai automobile industry. It is understood that the first phase of the factory will have annual production capacity Reached 100,000 vehicles. In this factory, Changan Automobile will produce pure electric vehicles (BEV), range-extended electric vehicles (REEV) and plug-in hybrid electric vehicles (PHEV). This diversified production layout will help meet the needs of different markets for environmentally friendly travel methods.

Changan Automobile plans to export electric vehicles produced in Thailand to overseas markets such as ASEAN countries, Australia, New Zealand, the United Kingdom and South Africa to expand its international influence and further Promote Thailand's status as an automobile production and export center

It is understood that Changan Automobile's investment plan is not a sudden decision. Since 2020, the company has begun to actively look for investment opportunities in Thailand and has had in-depth exchanges with the Thailand Investment Promotion Commission on many occasions. Ultimately, the investment application was submitted during the visit of a delegation led by the Thailand Investment Promotion Committee to Chongqing at the end of June this year.

##Narit Therdsteerasukdi, Secretary-General of the Investment Committee, stated that Thailand BOI will offer multiple incentives to Changan Automobile, covering the manufacturing of all types of electric vehicles and zero-emission vehicles, including the production of 17 key components such as batteries, platforms, and complete vehicles, and even investment in charging stations.

Changan Automobile plans to launch its first electric vehicle in the Thai market at the end of this year, which marks the company’s official launch of its production plan in Thailand. At the same time, thanks to the Thai government's support for the electric vehicle industry and the incentive policies provided by BOI, this investment plan is expected to bring new development opportunities to the Thai automobile industry, and will also help Changan Automobile win more competition in the international market. Advantage

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