Chinese automaker Great Wall Motor (GWM) is expanding its electric vehicle (EV) business in Southeast Asia. GWM has developed an EV production base in Thailand and plans to start selling locally-made EVs this month.
- Chinese automaker Great Wall Motor (GWM) is set to expand its electric vehicle business in Asean with the launch of locally-made EVs in Thailand this month.
- GWM’s Rayong factory in Thailand will initially produce 8,000 units of the Ora Good Cat EV, with plans to participate in the government’s second-phase EV incentive package.
- The prices of EVs produced in Thailand will be 100,000 baht cheaper than imported models from China, offering a competitive advantage for GWM in the market.
The company will announce its new business plan on February 9, detailing the investment budget and new car models produced at its factory in Rayong province.
The production line for the new GWM Ora Good Cat electric vehicle was inaugurated on January 12 at the GWM plant in the Eastern Seaboard Industrial Estate, Rayong.
GWM has invested 22 billion baht in the EV production facility and renewable energy development. The company aims to produce 80,000 EVs per year initially, including the Ora Good Cat models.
The locally produced EVs will be 100,000 baht cheaper than the imported ones from China. GWM also plans to participate in the government’s second-phase EV incentive package.
The new production line of GWM Ora Good is part of the approval of 23 EV projects from 16 companies by the Board of Investment.
With the Thai government’s goal of achieving a 30% share of EVs in domestic car production by 2030, other Chinese automakers like SAIC Motor and BYD are also planning to start EV production in Thailand, contributing to the surging EV sales in the country.
The Thailand Board of Investment (BOI) has recently approved investment promotional privileges for EV-related businesses, with a combined investment value of 77.26 billion baht ($2.2 billion).
The National Electric Vehicle Policy Board (EV Board) aims to make Thailand ASEAN’s No. 1 EV hub and to rank in the top 10 globally. They have set a target of producing 30% of EVs within the country by 2030, which amounts to approximately 725,000 units per year.
