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Monday, June 5, 2023

SAIC Motor breaks ground on new energy park in Thailand to boost EV supply chain

SAIC Motor, a Chinese car manufacturer, has broken ground on a new energy industrial park in Thailand as part of its long-term development plan in the Southeast Asian country. The 120,000 square meter energy park in Chon Buri province’s Eastern Economic Corridor Special Zone includes a power battery plant, a production line for electric vehicle (EV) components, a container yard, and a logistics warehouse to enhance transportation efficiency. The industrial park is expected to attract core component suppliers and further bolster the supply chain capability upon completion.

The park will provide crucial support for Thailand’s transformation towards a “green and low-carbon” society, said Zhao Feng, president of SAIC Motor-CP, a joint venture between SAIC Motor Corp and Charoen Pokphand Group. SAIC’s MG brand, which entered the Thai market in 2013, became one of the most popular brands among Thai customers, with over 180,000 users in the country, Zhao said.

Thailand aims to become an EV production hub, with EVs accounting for 30 percent of its total vehicle output by 2030. As a result of government stimulus and subsidy policies, the preference for electric cars has significantly strengthened among both EV makers and consumers in recent years. Last month, another Chinese EV giant BYD broke ground on its Thailand factory, slated to commence production in 2024, with an annual capacity of 150,000 new energy vehicles.

According to data released on Thursday, Thailand’s new EV registrations have increased steadily in the first quarter of this year. In March, new battery electric vehicle (BEV) registrations reached a record high of 8,522 units. During a Bangkok motor show, which ended earlier this month, SAIC received nearly 4,000 orders, ranking third among all participating automakers. SAIC’s new energy park is expected to attract core component suppliers and further bolster the supply chain capability, which will help meet the rising demand for EVs in Thailand.

Noah Gallix
Author: Noah Gallix

SourceXinhua

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