Mercedes-Benz is considering investing in a battery plant in Thailand to meet growing demand for plug-in- hybrid electric vehicles (PHEVs) in the country.
Michael Grewe, president of Mercedes-Benz Thailand, told local reporters his company currently imports high-voltage batteries from Germany for the PHEVs it assembles at its Samut Prakan plant just outside Bangkok.
Go deeper with GlobalData
He did not confirm when the plant would be built but said a local source for these batteries is needed. In July, BMW also announced it is considering investing in a plant for such batteries for its locally-made plug-in hybrid vehicles.
Demand for hybrid vehicles in Thailand has grown strongly, driven by tax incentives for fuel-efficient vehicles.
Mercedes-Benz confirmed that it has sold 1,500 PHEVs in Thailand so far this year and 500 units in August alone – close to 60% of the brand's total sales.
While Mercedes-Benz only began local PHEV assembly this year, non-plug-in hybrid vehicle began in 2013 but has since ceased. It has sold a total of 4,000 of these vehicles locally so far.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
