![Isuzu announces RM 4.1 billion investment in Thailand to build EV pick-up truck export hub 01]()
Isuzu Motors has announced a significant THB 32 billion (~RM 4.1 billion) investment in Thailand to kickstart the manufacturing of battery cells and production of EV pick-up trucks in the region.
The Thai investment is part of a larger JPY 1 trillion (~RM 32.1 billion) to be funnelled across the company until 2030, as the company hopes to make Thailand a production and export hub for EV pick-up trucks, The Bangkok Post reports.
The investment in Thailand will focus on establishing EV production capabilities, battery production and supporting projects geared towards carbon neutrality and digital transformation in logistics.
Takashi Oodaira, Isuzu's Executive VP, mentioned that the company is in the midst of finalising its plans for a battery cell factory and an EV assembly plant, "We are considering how much we will spend for a battery cell factory and EV assembly. We are also deciding on battery cell production capacity.”
Although the location for the battery production facility is still under deliberation, Isuzu has selected the Samrong area in Samut Prakan province for its D-Max electric pickup assembly plant.
Also read: From Thailand to the world; 2024 Isuzu D-Max BEV concept shown, to enter production in 2025
![Isuzu announces RM 4.1 billion investment in Thailand to build EV pick-up truck export hub 01]()
The company has set its sights on exporting these battery-powered pickups to European markets as well as the Australian market by 2025.
Notably, in 2024, Thailand exported 786,383 pickups, representing 70 percent of the country's total car exports.
Isuzu's investment move aligns with its participation in Thailand's EV3.5 incentive scheme.
the latest phase of EV subsidy packages granted by the Thai Government, known as EV 3.5 comes into effect for 4 years, between now and 2027.
Under the EV 3.5 package, the Thai government will provide purchase subsidies for electric cars, pick-up trucks, and motorcycles based on vehicle type and battery capacities.
These include subsidies ranging between THB 50,000 (~RM 6.6k) and THB 100,000 (~RM 13.2k) for passenger cars under THB 2 million (~RM 265k) and THB 100,000 (~RM 13.2k) subsidies for locally-assembled (CKD) EV pick-up truck purchases. These incentives also include reductions in import duties (of up to 40% in 2024 and 2025) and excise tax (from 8% to 2%).
However, all companies must offset with EV production domestically at a 1:2 CBU/CKD ratio by 2026 and 1:3 by 2027 to qualify.
