BANGKOK, Thailand: Thailand and Toyota Motor Corp are becoming a member of forces to develop the nation’s electrical car (EV) business, Prime Minister Srettha Thavisin introduced following a gathering with Toyota executives.
“Toyota said it sees the potential of Thailand’s auto manufacturing industry, especially in pick-up trucks and eco-cars,” the federal government stated in a press release.
This collaboration coincides with Toyota’s plans to check its first EV pick-up truck in Thailand, aiming to spice up EV gross sales within the face of accelerating competitors from Chinese rivals. Historically, Thailand has been a major export hub for Japanese automakers like Toyota and Honda.
Thailand goals to transform a 3rd of its annual manufacturing of two.5 million autos into EVs by 2030. Additionally, the federal government has launched a three-year tax break for automakers investing in automation and robotics following the current discount of shopper subsidies for EV purchases. In the second quarter, Thailand accounted for about half of all EV gross sales in Southeast Asia, with Chinese manufacturers main the gross sales charts.