Detroit of Asia Targets Battery Makers to Stay Ahead in EV Race
Thailand is readying an incentive package to encourage battery makers to set up manufacturing plants.
Great Wall's Ora Good Cat EV on display in Bangkok.
Photographer: Luke Duggleby/BloombergThailand has long been an auto hub, attracting global giants like Toyota Motor Corp. and Ford Motor Co. and earning the moniker of the Detroit of Asia. Now, as the pivot to electric vehicles gathers pace, the country is determined to keep its grip on the economically crucial industry.
The nation has already attracted 75 billion baht ($2.2 billion) from the EV industry, led by a slew of Chinese investments from BYD Co., Great Wall Motor Co. and SAIC Motor Corp. Changan Auto Co. and GAC Aion New Energy Automobile Co. are set to soon finalize their investment plans, and Chery Automobile Co. is also in talks.