Narit Therdsteerasukdi, Secretary-General of the Thailand Investment Promotion Board, said today that Chery Automobile has been approved to establish an electric vehicle production base in Rayong, Thailand.
The plant is expected to be put into production in 2025, with an annual production capacity of nearly 50,000 pure electric and hybrid vehicles in the first phase, and the annual production capacity will be expanded to 80,000 vehicles per year by 2028. Cars produced at the plant will be sold domestically in Thailand and exported to markets such as the ASEAN region, Australia and the Middle East.
As the automobile manufacturing center in Southeast Asia, Thailand produced 1.84 million vehicles in 2023 (exporting about 1.1 million units). Thailand officials plan to produce 2 million vehicles in 2024 as Chinese brands continue to ramp up production of electric vehicles. In 2023, Chinese brands’ share in Thailand’s new car market will reach 11%, while Japanese car brands’ share will drop from a peak of more than 90% to 78%.
