Thailand Welcomes CATARC for EV Boost
BANGKOK (NNT) - The government announced the establishment of a China Automotive Technology and Research Center (CATARC) in Thailand, marking it as the 4th global facility of its kind.
The setting up of CATARC follows a slew of major investments from Chinese carmakers in the country. Companies, such as BYD and Great Wall Motor, have committed to investing US$1.44 billion in new production facilities, bolstered by Thai government tax incentives and subsidies.
CATARC, an organization linked to the Chinese government with existing facilities in Germany, Switzerland, and Japan, is set to function as a support hub for Chinese electric vehicle (EV) manufacturers operating in Thailand.
Thailand also plans to transform about a third of its annual vehicle production of 2.5 million into EVs by 2030, with the government preparing additional incentives to boost investments in domestic EV manufacturing. Subsidies of up to 150,000 baht ($4,265) per car have helped increase EVs’ popularity in Thailand, accounting for nearly half of all EV sales in Southeast Asia in the second quarter.
Information and Source
Reporter : Krajangwit Johjit
Rewriter : Krajangwit Johjit
National News Bureau : http://thainews.prd.go.th