Thailand nabs $285m Changan EV plant as Chinese investment booms

Factory to be first outside China for state-owned automaker

Changan Automobile's Lumin EV is displayed at a Shanghai show. The Chinese company's big splash into Thailand comes three weeks ahead of much-anticipated elections. © Reuters

FRANCESCA REGALADO, Nikkei staff writer

April 20, 2023 18:49 JST

BANGKOK -- Changan Automobile will begin producing electric vehicles in Thailand, its first manufacturing base outside China as the state-owned automaker seeks to drive overseas sales.

Changan will make an initial investment of 9.8 billion baht ($285 million), the Thai Board of Investments said on Thursday. The automaker will invest a total of 4 billion yuan ($581 million) in Thailand over the next few years, Changan Chairman Zhu Huarong announced at the Shanghai Auto Show on Tuesday.