Scoop: Geely to invest RM 1.3 bil for EV plant in Thailand - How will this affect Proton's plans?
CY Foong · Aug 3, 2023 10:20 AM
Known as the “Detroit of Southeast Asia”, Thailand has been attracting many foreign carmakers to invest and set up automotive hubs in the country for years that some like the Mitsubishi Triton and Isuzu D-Max have called the Land of Smiles their home.
In recent years, the Kingdom has also been attracting Chinese carmakers looking to further expand their presence in the global market, the most notable being Great Wall Motors (GWM), the parent company of Ora and Haval. According to a latest report though, Geely is also looking to set up a plant in Thailand.
A high-level source from Thailand’s Ministry of Industry revealed to Headlight Mag that Geely Group is preparing to launch an investment plan to produce cars in Thailand worth THB 10 billion (RM 1.3 billion). The plant is planned to be built in the eastern part of the country and aims to have an annual production capacity of 100,000 vehicles.
Geely Group has several brands under its umbrella including Proton. There were rumours that the Malaysian tiger is planning to return to the Thai market by launching the X50 as well as supplier and subsidiary ACO Tech developing voice commands in Thai.
Geely is reportedly one of the 5 major Chinese EV manufacturers that were invited to a meeting with the Thai Board of Investments back in April. The other 4 brands were BYD, Changan, GAC Motors, and Jiangling Motors.
Thailand’s EV industry development plan, Roadmap 30@30, aims for 30% of vehicles produced in the Kingdom to be electrified by 2030. EV sales in the Kingdom are also rising, making Thailand one of the fastest-growing EV adopters in Southeast Asia.