Mazda Motor Corp has announced a $150 million (5 billion baht) investment in Thailand to manufacture electric compact SUVs, aiming for an annual production capacity of 100,000 units. This move is set to boost both domestic sales and exports to Japan and other ASEAN markets, according to Thailand’s Board of Investment.
This investment comes at a critical time for Thailand’s automotive industry, which has seen a decline in production and domestic sales due to economic challenges. However, industry experts predict a 40% surge in electric vehicle (EV) sales in Thailand this year, surpassing 100,000 units and marking a turnaround from last year’s slump.
Thailand, Southeast Asia’s largest automotive hub, has been actively attracting EV investments through government tax incentives and subsidies. Chinese automakers like BYD and Great Wall Motor have already committed over $3 billion to EV production in the country.
Mazda’s decision to invest in Thailand highlights its strategy to compete in the growing EV market while leveraging the country’s established automotive infrastructure. This move positions Mazda alongside other global automakers expanding their EV production in the region.
