(CTN News) – Deputy Prime Minister and Minister of Commerce of Thailand, Phumtham Wechayachai, encouraged Chang’an Automobile, the top automotive firm in China, to invest in electric vehicle (EV) component R&D in Thailand.
This resulted from today’s meeting between Phumtham and Chang’an Automobile Chairman Churu Huarong.
As a leading player in the automotive industry, Chang’an Automobile has a great track record of research and development across numerous elements of car manufacture.
The corporation has set up ten R&D centers in over six nations, including Germany, Italy, Japan, the United Kingdom, the United States, and China. Cooperation with well-known automakers, including Ford, Mazda, Suzuki, and Peugeot shows Chang’an Automobile’s dedication to the vehicle industry’s progress.
After reviewing Chang’an Automobile’s proposal, the Board of Investment (BOI) approved it in October. The FDI from the corporation is expected to surpass all others in Thailand this year.
With this massive investment initiative, Chang’an Automobile is taking its first big step outside of China, hoping to produce and develop in areas like technology, the environment, human resources, and the supply chain for electric vehicles.
Located in the Eastern Special Development Zone, WHA Eastern Seaboard Industrial Estate 4 in Rayong Province is where the business intends to construct an electric vehicle manufacturing unit. More than 2,600 jobs will be created, and the project will generate about 24 million yuan (about 120.5 million baht).
Phumtham added that investing in electric vehicle production in Thailand integrates R&D, manufacturing, component support, distribution, and delivery. This includes EVs, PHEVs, REEVs, and batteries.
“The electric vehicle industry in Thailand will receive support from this, which will have a positive impact on both economies and people’s quality of life.”
Among Phumtham’s three suggestions for the business, three stand out: first, the promotion of supply chain management; second, the enhancement of the development of Thai automotive engineering experts; and third, the support and research of automobile parts production as an Original Equipment Manufacturer (OEM).
According to KhaoSod, this will be good for both nations and might eventually make Thailand a big production hub.