According to two sources, Chinese automaker Geely is considering importing and manufacturing electric vehicles (EVs) for Thailand.
The people told Reuters they were considering selling an entry-level electric car and an electric pickup truck from its new Radar brand in Thailand. However, a business media spokeswoman claimed, “Geely has no such plans,” and declined to comment on any investment conversations in the country.
The Secretary-General of Thailand’s Board of Investment, Narit Therdsteerasukdi, said the board met with five major Chinese EV manufacturers, including Geely, in April.
According to the agency, BYD Co Ltd (002594. SZ), Chongqing Changan Automobile Co Ltd, JAC Motors, and Jiangling Motors Corp Ltd were the others.
“All expressed keen interest in Thailand’s policy to develop a regional EV production base and an integrated EV supply chain,” Narit said. Thailand, the world’s tenth-largest automaker, seeks new investments to maintain and diversify a manufacturing base that has relied primarily on Japanese brands and combustion engines.
By 2030, the government plans to turn 30% of its 2.5 million vehicle manufacturing into EVs. Thailand’s indigenous EV production is being developed by BYD and Great Wall Motor Co Ltd (601633. SS).
One claimed that Geely’s working-level autonomy for brand-level working groups like Geometry and Radar Auto had complicated discussions.
The second person briefed on the negotiations said Geely’s review included building a facility in Thailand.
If automakers agree to build cars and parts in Thailand for several years, they can get EV incentives. In May, Geely quadrupled its investment in luxury carmaker Aston Martin.
Proton is present throughout Southeast Asia. Geely debuted in Geometry in 2019. The Geometry A sedan led China’s 2022 sales increase. In addition, China’s first mass-market electric pickup truck, the Radar RD6, was delivered by Geely in February.
Great Wall Motor, a Chinese automaker, may establish a battery-powered pickup truck research center in Thailand. Last year, over half of Thailand’s light vehicle sales, were pickups, dominated by Japanese carmakers, including Toyota Motor Corp (7203.T) and Isuzu Motors Ltd (7202.T).
