Changan Automobile has agreed to invest THB9.8bn in a Thai factory supplying electric and hybrid vehicles for domestic sale and export.
The Chongqing based company has planned a plant with initial capacity of 100,000 vehicles per year to supply Thailand and export to other ASEAN right hand drive markets plus Australia, New Zealand, South Africa and the UK.
The company has said that it will produce battery electric, plug in hybrid and range extender EV’s. The target for the automaker is 2.8m sales in 2023 which will be backed by an aggressive new energy vehicle (NEV) product offensive involving the launch of 12 new models under the Changan, Deepal and Avatr brands, the last being a premium brand it established with Huawei and battery manufacturer CATL.
The company also has a vehicle production joint venture in Chongqing with Ford and Mazda.
BOI secretary-general Narit Therdsteerasukdi said in a statement: “Changan’s decision to invest in Thailand is a significant milestone in promoting the country as the world’s major EV production base.”
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