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Geely is planning an entry into Thailand EV market

Geely is planning an entry into Thailand EV market

Geely is planning an entry into Thailand EV market


Geely is planning an entry into Thailand EV market

Geely is looking to sell electric vehicles (EVs) in Thailand and is currently considering models for import and local manufacturing, Reuters reports. According to anonymous sources that spoke with the news outlet, the Chinese carmaker is considering whether to market an entry-level EV as well as a fully electric pick-up truck from its Radar brand.

Officially, Geely is not confirming any such plans, with a company media representative declining to provide details about any talks on investments. However, it is known that Thailand’s Board of Investment (BOI) organised a roadshow in China back in April to lure foreign funds.

Narit Therdsteerasukdi, who is the BOI’s secretary-general, revealed discussions were held with five major Chinese EV makers during the roadshow, including Geely, BYD, Chongqing Changan Automobile, JAC Motors and Jiangling Motors, “All expressed keen interest in Thailand’s policy to develop a regional EV production base and an integrated EV supply chain,” Narit said.

Geely is planning an entry into Thailand EV market

Thailand is aiming to have EVs account for 30% of its automotive production by 2030 and is offering financial incentives to car companies to attractive foreign investment. Meanwhile, subsidies are being offered to car buyers to promote the demand for EVs in the country.

Geely has many brands in its portfolio, some of which are given working-level autonomy that complicates discussions. “They have to decide what model to bring to Thailand,” said one of the sources, who added that a local assembly plant is also being reviewed.

The divisions within the Zhejiang Geely Holding Group include the Geely Auto Group that has Geely Auto, Geometry, Lynk & Co and Proton (49.9% stake). Others include Zeekr Intelligent Technology (Zeekr), Lotus Group (Lotus Cars), smart Automobile (a joint venture with Mercedes-Benz), Volvo Car Group (Volvo Cars and Polestar), LEVC (London Electric Vehicle Company), Radar New Energy Automobile (Radar) and Geely New Energy Commercial Vehicle Group.

The post Geely is planning an entry into Thailand EV market appeared first on Paul Tan's Automotive News.

* This article was originally published here
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