Posted on 08 May 2023
Thailand authorities are reportedly discussing investment opportunities with Chinese battery company CATL, as the Southeast Asian country seeks to become a centre for EV production.
According to local newspaper Bangkok Post, Narit Therdsteerasukdi, secretary general of Thailand's Board of Investment (BoI), says officials are engaged in talks with many battery firms, including CATL.
“This is one of our goals — that we would like to attract battery cell producers to set up their factory in Thailand,” he says, refusing to offer details on ongoing negotiations.
Thailand, which plans to electrify around 30% of its annual auto production by 2030, is said to prefer gigafactory projects with a capacity of at least 8 gigawatt-hours.
So far, CATL has most of its production facilities in China, Germany and Hungary. If this collaboration is settled, it might be CATL’s first production facility in Southeast Asia, Kallanish notes.
Japanese brands such as Toyota still play important roles in the Thai auto industry. With the entry of Chinese brands such as BYD, MG and Great Wall Motor, competition is intensifying. To attract Chinese investment, Thailand has been granting incentives like tax rebates and subsidies to companies building local production capacity.
According to The National Thailand, at least 50 Chinese EV auto parts suppliers have set up offices in Thailand.
Last year, CATL announced a strategic collaboration with Thai state-owned oil and gas company PTT to jointly explore cooperation and development opportunities in battery-related business in Thailand.
Source:Kallanish
