China's first overseas passenger car factory, BYD, landed in Thailand.This also makes BYD a third Chinese car company in Thailand.
According to Caixin.com, BYD Automobile Thailand Co., Ltd. and WHA Weihua Group Volkswagen Co., Ltd. signed a contract on September 8 to finalize land subscriptions and factories.The WHA Weihua Group is a developer of the industrial park. It holds the factory and logistics warehouses held. The total size of the property reaches 875,000 square meters.Public information shows that the industrial zone under WHA Weihua Industrial Development Popular Co., Ltd. has already settled in SAIC Group, Great Wall Motor, Ford, Mazda and other car companies.
BYD said that the Thai factory is expected to begin operations in 2024. It mainly produces right rudder cars with an annual output of about 150,000, and its products are put on the Thailand market and the surrounding Asianan countries.In Southeast Asia, the main market for right rudder is Thailand, Indonesia and Malaysia.
It is reported that BYD Thai factory covers an area of about 96 hectares and is located in the ES Economic Corridor Special Economic Zone (EEC).The total area of EEC is 13,300 square kilometers, and the district is dominated by high -tech industries such as cars, electronics, and biotechnology.Local preferential policies include: 5 to 10 years of duty -free period, some enterprises levy mechanical import tariffs, raw materials import tariffs, senior experts and researchers to reduce personal income tax.Since 2019, China's investment in EEC has ranked among the top countries in various countries.
Liu Xueliang, general manager of BYD Asia Pacific Automobile Sales Division, said that choosing a factory in Thailand has a wealth of automotive industrial heritage and first -class manufacturing capabilities. I look forward to the Thai factory can enable new energy vehicles to further enter the local area.Human daily life.
The Thai government plans to increase the country's electric vehicle output to 30%of the total vehicle output by 2030.Caixin.com quoted Edmund Araga, the chairman of the Asia -Pacific Electric Vehicle Association, said that Thailand is the most active country in Southeast Asia to promote electric vehicles in the Southeast Asian electric vehicle manufacturing center.Market research institution Research and Markets predicts that the Southeast Asian electric vehicle market will increase from approximately 500 million US dollars in 2021 to US $ 2.67 billion in 2027, with a compound annual growth rate of 32.73%.
In February 2022, Thailand released electric vehicle incentives, and the import of electric vehicle consumption tax rates dropped from 8%to 2%.
However, after 2024, electric vehicles must be produced locally in Thailand to enjoy tax benefits and consumer subsidies. Car companies that have set up factories in Thailand have a leading advantage.At present, only Chinese car companies in Thailand have SAIC Group, Great Wall Motor and BYD.
