On August 16, the Thai Investment Promotion Board (BOI) issued a statement saying that Changan Automobile has applied to build an electric vehicle and hybrid vehicle factory in Thailand, with an investment of 8.8 billion baht (IT home note: currently about 1.813 billion yuan), with an annual capacity of 100,000 vehicles in the first phase.
    Changan Automobile's new plant in Thailand will produce pure electric vehicles (BEV), extended range electric vehicles (REEV) and plug-in hybrid electric vehicles (PHEV) and sell these vehicles in Thailand and export markets, including ASEAN countries, as well as Australia, New Zealand, the United Kingdom and South Africa. In addition, Changan Automobile also plans to establish a research and development center for important components here for future vehicle development.
    Narit Therdsteerasukdi, secretary general of the Investment Committee, revealed that the application was made after leading BOI on a visit to Chongqing at the end of June to meet with Chang 'an Automobile Chairman Zhu Huarong and the company's management team. Narit said Changan Automobile has been exploring investment opportunities in Thailand since 2020 and has held frequent talks with the Thai Investment Commission since then. The company plans to launch electric vehicle models in the Thai market by the end of this year and then start local production.
    To attract investment, BOI Thailand will offer incentives covering all types of electric vehicles and zero-emission vehicles more broadly, the manufacturing of 17 key components ranging from batteries and platforms to complete vehicles, as well as investment in charging stations.