Changan Automobile is investing as much as Bt8.8 billion (US$250 million) in Thailand with an initial target of producing 100,000 vehicles annually in the Kingdom starting in 2025.
The Chinese automaker recently staged the foundation stone laying ceremony for its assembly plant in Rayong province, which is the first of its kind outside of China.
While the Changan factory will cover all aspects or production including paint shop, assembly, engine and battery, the second phase investment will bring the total investment to Bt20 billion with production to eventually reach 200,000 units per year, the company stated. Thailand will serve as the production base for the whole Asean market as well as other right-hand-drive markets around the world.
Wang Hui, Vice President of Changan Automobile, said the company’s investment in Thailand reflects its global business expansion strategy.
“The foundation stone laying ceremony today marks Changan Automobile’s entry into a new role internationally, and we are delighted to begin construction of the manufacturing plant that will serve as Changan’s base of operations in Thailand,” he said.
“This is a testament to our commitment to be the automotive leader and improve people’s quality of life,” Wang added. “By collaborating with important partners for this operation, it not only reflects a concerted effort to position Thailand as a regional electric vehicle hub, but will also help strengthen the close relationship between China and Thailand.”
