More China EV makers eyeing Thailand as production base, says business group

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Prospects are backed by recent investment incentives for Chinese automakers, and investments are pouring in.

BANGKOK: More major Chinese electric vehicle makers are eyeing Thailand as a manufacturing and distribution base to neighbouring economies, according to the Thai-Chinese Chamber of Commerce.

China’s Hozon New Energy Automobile Co. will start production in Thailand to sell to South-East Asia in 2024, becoming the latest EV maker to begin building a supply chain in the region’s top auto-manufacturing hub. Li Chuyuan, chairman of Guangzhou Pharmaceutical Holdings, and Hui Yuan, chairman of Xiao i Corporation are among prominent Chinese businessmen participating in the event.

Chinese firms sought to invest 25 billion baht during the period, up 87% from a year ago, in industries such as battery production, electronics, petrochemicals and solar cell, data showed.

 

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