Chery Thailand Factory: Boosting the Development of the Electric Vehicle Industry in Thailand
AshleyApr 28, 2024, 03:19 PM
According to Narit Therdsteerasukdi, Secretary-General of the Thai National Investment Committee, Chery is the eighth Chinese electric vehicle manufacturer to be approved, following BYD, MG, GWM, Changan, GAC Aion, NETA, and Foton.
Last year, Chery exported 1.8 million units, taking Thailand as a production base to meet Thailand's demand for right-hand drive electric vehicles, and exported vehicles to ASEAN countries, Australia and the Middle East. Narit added that Chery electric vehicles will be sold in Thailand under the names Omoda and Jaecoo, which are the company's sub-brands for foreign markets.
In the first phase, Chery will establish a factory in Rayong by the end of 2025 to produce pure electric vehicles (BEV) and hybrid electric vehicles (HEV) at a rate of 50,000 per year.
In the second phase, the production capacity will be increased to 80,000 per year by 2028.
Earlier this year Chery stated that it will set up regional production centers in Indonesia and Vietnam.
Currently, the market share of Chinese brands in the new car market in Thailand has reached 11%, a figure that has been growing steadily over the past few years. At the same time, the market share of Japanese car brands in Thailand has fallen from over 90% to 78%. As consumer demand for environment and technology increases, the market share of electric vehicles will gradually expand.
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