Guangzhou Automobile Corporation (GAC), China’s second-largest electric car (EV) vendor, is ready to invest 6 billion baht within the construction of EV and battery factories in Thailand over the following three to 5 years. The move will rework the country into a key manufacturing and export base for the agency.
Cash , who oversees the company’s subsidiaries, Aion Automobile Manufacturing and Aion Automobile Sales (Thailand), stated that the firm is currently determining the factories’ location and production capability. The goal is to cater to each home and overseas markets.
This move aligns with the Thai government’s ambition of transforming the country right into a regional hub for EVs. The National EV Policy Committee declared in 2021 its intention to make half of the locally-made automobiles EVs by 2030.
Aion, in line with the environmental policies of its Guangzhou-based mother or father firm and the worldwide drive in opposition to international warming, is seeking to assemble eco-friendly production services in Thailand. This will assist to minimise carbon dioxide emissions from manufacturing processes.
Thailand is the primary abroad destination GAC has invested in, mentioned Ma, suggesting the country’s strategic importance for the firm. The purpose, he mentioned, is to make Aion one of many high three EV manufacturers in Thailand. He observed that the region has appreciable EV growth potential, particularly in Thailand.
GAC’s plans embrace the official launch of the Aion Y Plus EV this September. Following this, the company intends to roll out three new models annually. GAC presently boasts a total of six EV fashions.
In phrases of sales volume, BYD leads the Chinese market, followed by GAC and Tesla. GAC bought 250,000 units in China within the first seven months of 2023, marking a 120% year-on-year progress.
Apichat Leenutaphong, the founder and CEO of Sharich Holding Co, which is a vendor for Aion, acknowledged that the firm is planning to put money into 12 to 15 GAC showrooms. Aion has already greenlit the development of four showrooms. Sharich Holding is about to spend between 15 and forty million baht on each showroom’s growth, said Apichat, reports Bangkok Post..