Tesla will be in Thailand yet
2022.12.07 04:01
Tesla will be in Thailand yet
Budrigannews.com – (NASDAQ) Tesla On Wednesday, Inc. made its first foray into Thailand, a region that has long been dominated by Japanese automakers, by introducing two electric vehicle (EV) models.
The introduction of two electric vehicles with prices ranging from 1.7 million baht to 2.5 million baht (or $48,447 to $71,205) coincides with Thailand’s efforts to encourage the production and adoption of electric vehicles through tax breaks and subsidies.
The American automaker intends to begin online sales of its electric vehicles in Southeast Asia’s second-largest economy at the beginning of the following year. However, it faces stiff competition from Chinese brands like BYD and Great Wall Motors, which have recently established showrooms and distribution partners to reach customers and offer electric vehicles with starting prices of 800,000 baht.
Tesla did not elaborate on its sales goals.
For companies like Toyota Motor (NYSE:), Thailand is the fourth largest auto assembly and export hub in Asia. It produces between 1.5 million and 2 million vehicles annually, half of which are exported, including Honda Motor Co. Ltd.
According to the Thailand Automotive Institute, approximately 7,000 new battery EVs were registered in the first ten months of 2022, up from 2,000 the year before. Fuel-based vehicles, particularly those manufactured by Japanese brands, continue to dominate the market, but EV adoption has gradually increased.
Those who attended Tesla’s launch in a posh mall in central Bangkok expressed interest in the new vehicles on offer.
“I’m happy. Thitipun Paisirikul, a 36-year-old office worker, stated, “The price differences aren’t significant (from other EV brands),” and added that he anticipated the vehicle would have a high resale value.
The public authority needs somewhere around 30% of vehicles delivered in the country to be electric by 2030.
This year, the state-owned energy company PTT Group announced a $1 billion joint venture with Foxconn in Taiwan to produce electric vehicles in Thailand.
