BMW Group Thailand to Finalize Plan for Electric Vehicle Factory in Thailand
BMW Group Thailand to Finalize Plan for Electric Vehicle Factory in Thailand - Motor Mouth BMW Group Thailand is nearing the completion of its plan to build an electric vehicle (EV) factory in Thailand, aiming to utilise the opportunities presented by the growing EV industry. The company's president and CEO, Alexander Baraka, expects the investment plan to be finalised within the next 1-2 months. The Thai government has been supporting the EV industry, offering incentives such as tax cuts and subsidies to promote EV consumption and production. BMW Group Thailand sees the country’s EV industry as having high-growth potential and believes its customers have a high level of purchasing power. The firm has already invested in expanding its car production capacity at its factory in Rayong to meet growing consumer demand.
Pubblicato : 2 anni fa di Enrico Tomasso in Auto
BMW Group Thailand is nearing the completion of its plan to build an electric vehicle (EV) factory in Thailand. The Munich-based car manufacturer is looking to take advantage of the opportunities presented by the growing EV industry, which is strongly supported by the Thai government. Alexander Baraka, president and CEO of BMW Group Thailand, expects the investment plan to be finalized within the next 1-2 months after further discussions with the company’s parent company and Thailand’s Board of Investment.
The Thai government has been continuously supporting the EV industry, offering incentives such as tax cuts and subsidies to promote EV consumption and production. BMW Group Thailand sees the country’s EV industry as having high-growth potential and believes its customers in the premium car segment have a high level of purchasing power. As a result, the company is not waiting for a new incentive package to be launched before proceeding with its plan.
BMW Group Thailand is considering two options for the EV assembly plan in Thailand. One option is to upgrade its existing factory, which currently produces internal combustion engine-powered cars, to include an EV production line. The other option is to build an entirely new EV plant. The company has already invested in expanding its car production capacity at its factory in Rayong to meet growing consumer demand.
During the first nine months of this year, BMW saw a 331% year-on-year increase in EV sales in Thailand, reaching a total of 940 units. The company currently operates 335 EV charging stations in collaboration with the Electricity Generating Authority of Thailand and Evolt Technology Co., with plans to expand to 1,000 chargers to serve motorists.
Sources:
– Original Article: “More talks slated with parent, BoI” – Bangkok Post
– Definition of EV: Electric Vehicle
– Definition of BoI: Board of Investment
Temi: Green Energy, Electric Vehicles, BMW, Thailand, ESG