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July 23, 2015

THAILAND: Kwaithong to build EV plant

Thai engineering company Kwaithong Motor is investing THB5bn (US$143m) in an electric vehicle (EV) assembly plant in the country.

Thai engineering company Kwaithong Motor is investing THB5bn (US$143m) in an electric vehicle (EV) assembly plant in the country.

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The company, which predominantly makes agricultural engines, will initially assemble electric buses from semi-knocked down (SKD) kits but aims to eventually assemble other types of electric vehicles for sale across south east Asia.

The announcement comes just months after the Bangkok Mass Transit Authority announced plans to roll out an electric vehicle recharging network ahead of its planned switch to electric buses next year. 

The Kwaithong brand buses will use chassis from Volkswagen Group’s MAN and lithium-titanium batteries from Hong Kong-listed Hybrid Kinetic Group. 

Construction of the plant is scheduled to start later this year with production slated to begin in mid-2016 at a rate of 2,000 units a year.

Free Report
img

What does the future hold for the US electric vehicles market?

The US Electric Vehicles (EV) market has established itself as one to watch. Despite China maintaining the number one spot, the US holds significant standing as one of the major EV markets, with GlobalData’s whitepaper identifying a strong growth trajectory within the forecast period. This report further analyzes the trends, market drivers, and government incentives set to influence and facilitate the market.   This report also looks beyond the US and touches on environmental concerns set to drive the EV market worldwide.   Want to find out more? This report demonstrates GlobalData Explorer’s sector analysis capabilities, showing how you can:  
  • Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
  • Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
  • Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
  • Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics
  Consult this report now to find out how you and your company can benefit from our Explorer platform.
by GlobalData
Enter your details here to receive your free Report.

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