The Thailand Board of Investment (BOI) has held talks with two of China’s top automakers in its latest efforts to promote the country as a regional hub for EVs.

Mr Narit Therdsteerasukdi, Secretary General of the BOI led the talks with Changan Automobile and Chery Automobile during an investment roadshow that was focused on EV and clean energy sectors.

Following the discussions, Mr Narit said: “Our latest talks with these two major Chinese EV manufacturers confirmed Thailand’s potential to be a production and export base for right-hand drive EVs because of the readiness of our automotive ecosystem and the fact we are the fastest growing EV market in the region.”

Chery sees Thailand as a “strategic investment location,” Mr Narit said and the automaker is in the process of negotiations with potentials partners and considering suitable investment models in Thailand, with plans to enter the Thai market in early 2024 with the Chery Omoda 5 electric SUV.

In a meeting the Mr Zhu Haurong, Changan’s chairman, the automaker confirmed its plan to establish an EV factory in Thailand with an investment in the first phase of US$260 million (9 billion baht).

The plans were first announced in April at the Shanghai Motor Show.

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By GlobalData

Other Chinese automakers that have already invested in Thailand include BYD, Great Wall Motor and SAIC.