Breaking News
Get 40% Off 0
👀 Reveal Warren Buffett's stock picks that are beating the S&P 500 by +174.3% Get 40% Off

Tesla China plans to build auto research center in Thailand as EVs gain popularity

Published Dec 08, 2023 20:46
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
TSLA
+1.16%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NIO
-5.97%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
LI
-1.99%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
XPEV
-6.98%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Thailand revealed Friday that China is planning to establish a China Automotive Technology and Research Center (CATARC) in the region, the fourth such facility in the world.

Tax incentives and subsidies offered by the Thai government have successfully attracted Chinese car manufacturers such as BYD and Great Wall Motor, who have pledged an investment of $1.44 billion in establishing new production facilities in the country.

According to a statement by Thai government spokesperson Chai Wacharonke, CATARC already operates centers in Germany, Switzerland, and Japan with the latest center aimed at supporting Chinese electric vehicle (EV) manufacturers in Thailand.

Thailand aims to move closer to full EV adoption by converting at least a third of its annual 2.5 million cars produced in the region into EVs by 2030. To facilitate this shift, the country is devising incentives aimed at fostering increased investment and the transition toward EV manufacturing.

The current government subsidies, reaching up to 150,000 baht ($4,265) per car, have played a pivotal role in propelling EV adoption in Thailand. As a result, the country accounted for approximately half of all EV sales in Southeast Asia during the second quarter.

Tesla China plans to build auto research center in Thailand as EVs gain popularity
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email