Bangkok Motor Show Witnesses a Century of Glory: MG Leads the Thai New Energy Vehicle Market, Opening a New Chapter

The 2024 Bangkok International Auto Show kicked off grandly, with car manufacturers from all over the world gathered to showcase the latest automotive technology and products. Among them, the MG brand, with its strong growth momentum and leading electric vehicle technology, became one of the focuses of this auto show.

The MG brand is developing rapidly in Thailand, and electric vehicles are leading the Thai market. The year 2024 marks the tenth anniversary of MG's entry into the Thai market and the centenary of the brand's founding. At this important moment, the MG brand has achieved impressive results in Thailand and has become a leading enterprise in the field of new energy vehicles in Thailand.

In 2012, SAIC Group and Charoen Pokphand Group co-founded a factory in Thailand, under which MG officially entered the Thai market in 2014. As a global brand originating from the UK, MG has always been committed to promoting and popularizing new energy vehicles in the Thai market.

In 2019, MG launched Thailand's first new energy vehicle, the MG ZS EV, priced at 1,190,000 baht, which lead the development of the new energy vehicle market in Thailand. The car is a compact SUV with a maximum power of 150 horsepower permanent magnet synchronous motor and a peak torque of 350 newton meters. Its NEDC combined driving range is 445 kilometers.

In 2023, MG ranked seventh in the Thai market with a market share of 3.7%. In February 2024, MG's ranking rose to sixth. MG has deeply laid out the Thai new energy market, built a strong market influence, and has become a leader in the field of new energy in Thailand.

1. Localization of battery production: The SAIC Charoen Pokphand electric vehicle battery factory covers an area of 12 hectares with an investment of 500 million baht (approximately 13.9 million US dollars), and it is the first battery factory of SAIC Group and MG Thailand in ASEAN. The completion of the battery factory enables MG to complete the production of new energy vehicles locally in Thailand.

In November 2023, Thai Prime Minister Seta Zong visited the joint Thai-Chinese venture, SAIC Motor-Zhengda Ltd., in Chonburi Province. This marked Seta's first visit to an automobile company since taking office as Prime Minister. During the visit to the SAIC CP production base, Prime Minister Seta also attended the offline ceremony of the first pure electric vehicle in Thailand, and test-rode the soon-to-be-on-market MG Cyberster electric sports car.

The Thai government has clear support policies for new energy vehicles. The government hopes that by 2025, sales of electric vehicles will reach 225,000 units, and by 2030, 725,000 units, accounting for 30% of its automobile production, and ultimately achieve the 100% electrification target by 2035. The Thailand Board of Investment (BOI) gives many concessions to foreign capital, such as reducing CKD (Complete Knocked Down, full import disassembly) import tariffs by 50% for 5 years, reducing joint venture corporate tax for 5 years, allowing foreign capital to freely remit and allow technology to freely enter and exit, etc.

2. Complete after-sales service system: MG has the largest new energy electric vehicle spare parts warehouse in Thailand, which stocks over 20,000 kinds of spare parts with an inventory of more than one million. In addition, MG has also built an independent network of charging piles and about 160 after-sales service outlets that covers more than 60 cities and regions in Thailand, which provides all-round support for new energy customers.

3. Award-winning car design: In 2023, the MG4 EV became the first electric car to win the Thai Car of the Year 2023. It was also voted by consumers to win the Electric Vehicle Product Award with the highest number of votes in 2023. Despite its outstanding performance in the new energy vehicle field, MG still pays attention to fuel vehicles, which reflects its development philosophy of fuel vehicles and electric vehicles co-driving, thereby to meet the needs of various consumers.

Looking ahead, MG will continue to deepen its presence in the Thai market, increase its investment in new energy vehicles, and launch more products and services that meet the needs of Thai consumers. MG will also actively participate in the electrification transformation of the Thai auto industry, contributing to the development of the Thai auto industry.

MG brought the MG4 facelift, MG VS HEV 100th anniversary special edition, MG ZS EV anniversary special edition, MG 5, MG 5 pro, cyberster, MAXUS 7, and MAXUS 9 models to this Bangkok International Auto Show.