The Thai government has announced the establishment of a China Automotive Technology and Research Center (CATARC) in Thailand, making it the fourth global facility of its kind.
This comes after major investments from Chinese carmakers in the country, with companies like BYD and Great Wall Motor committing to investing $1.44 billion in new production facilities.
- The establishment of the China Automotive Technology and Research Center (CATARC) in Thailand highlights the growing investment from Chinese carmakers in the country’s electric vehicle (EV) manufacturing sector.
- CATARC will assist Chinese automakers by tracking automotive standards and regulations in Thailand and surrounding countries, providing valuable information for their operations.
- Thailand aims to convert a significant portion of its annual vehicle production into EVs by 2030, with the government offering subsidies and incentives to attract domestic and foreign investments in this industry.
- Chinese automakers, including electric vehicle giants BYD and SAIC Motor, are actively entering the Southeast Asian market, particularly in Thailand, where they aim to manufacture EVs and gain market share from Japanese automakers.
CATARC, an organization affiliated with the Chinese government, already has facilities in Germany, Switzerland, and Japan. It is now poised to serve as a support hub for Chinese electric vehicle (EV) manufacturers operating in Thailand.
CATARC will also serve as a support hub for Chinese electric vehicle manufacturers operating in Thailand, as the country plans to transform a third of its annual vehicle production into EVs by 2030. The government is also offering subsidies and incentives to boost investments in domestic EV manufacturing.
Chinese automakers, such as BYD and SAIC Motor, have been making strides in expanding their presence in Southeast Asia, particularly in Thailand. Their focus is on manufacturing electric vehicles in the country. Currently, Chinese automakers hold a 10% share of sales volume in Thailand, while Japanese automakers have experienced a decline in their market share. This trend highlights the growing competitiveness of Chinese automakers in the region.
CATARC will monitor automotive standards and regulations in Thailand and surrounding countries, providing information to Chinese automakers. The institute will also collaborate with Thai authorities on testing and certification technology.