Neta V EV to be built in Thailand from 2024 – Hozon Auto to set up assembly plant, plans exports to SEAChina’s Hozon New Energy Automobile is the latest electric vehicle maker to choose Thailand as a production hub for the South-East Asian region. The Zhejiang-based manufacturer inked an agreement with local auto firm Bangchan General Assembly last week and will begin production of itsmodels in the near future.
Other Chinese automakers such as BYD and Great Wall Motors have also invested in Thai plants as demand heats up among domestic consumers. Last month, it was reported that Changan Auto would be investing US$285 million to set up a production facility in Thailand. Last year, Thailand became the first country in the region to offer cash subsidies for imported passenger EVs. Imported fully-electric models are also exempt from most import and excise duties until the end of 2023 – automakers wishing to continue benefiting from these subsidies will have to begin producing their cars locally starting from 2024.Anthony Lim believes that nothing is better than a good smoke and a car with character, with good handling aspects being top of the prize heap.
I know of many cases of automotive components that thai entities pay malaysian entities to assemble chinese automotive components for export to thailand, as it is cheaper buying through malaysia rather than direct from china. to be frank, hozon are better off assembling in malaysia and exporting to thailand rather than the other way round.Thai’s fuel prices are very high. It would be sensible for their people to buy EVs. Hence these companies setup their operations there due to the demands.The cost of living in Thailand is really high food cars and house much more expensive than elsewhere in asia fuel super expensive
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