Home ›› 09 May 2023 ›› Asia Biz
As China-made electric vehicles are increasing in popularity overseas, Chinese carmakers are investing in the construction of overseas manufacturing facilities to explore the vast opportunities in markets ranging from Southeast Asia to South America.
SAIC Motor, China's largest carmaker by sales, said last week that it has started construction of a new energy industrial park in Thailand.
The Thai government has recently made it a clear goal to grow the country into a regional hub of EV production, with EVs set to account for 30 percent of local vehicle production by 2030.
SAIC said the park, located in Chonburi province and covering 120,000 square meters, is expected to focus on the localized production of key auto parts for the company's new energy vehicles.
The Phase I construction of the park is estimated to be completed this year, while complete construction of the park will be finished in 2025. SAIC said several major core and key component enterprises have expressed their intentions to settle in the industrial park.
As early as 2013, SAIC teamed up with Charoen Pokphand Group to found SAIC Motor-CP, a joint venture, in its bid to develop the vast market in the Association of Southeast Asian Nations.
SAIC's MG brand, which entered the Thai market in 2013, has become one of the most popular brands among local Thai customers.
Local Thai media outlet AutoLife reported that six of the top 10 EV models in the first quarter of this year were from Chinese brands, ranging from SAIC and Hozon to BYD and Great Wall Motors.
