Japan keen on investing further in hybrid car industry in Thailand

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Japan Keen On Investing In Hybrid Car Industry In Thailand

Japanese companies are interested in investing more in hybrid car manufacturing in Thailand, the National News Bureau of Thailand cited Hiroki Mitsumata, president of the Bangkok branch of the Japan External Trade Organisation (JETRO), as saying.

The interest is focusing on vehicle production in Thailand’s Eastern Economic Corridor (EEC) mainly due to the Thai government’s investment promotion policy.

Mitsumata said at a press briefing on April 22 that Japanese investors are still confident in the Thai economy despite the current period of political transition. He added that investors are particularly interested in hybrid vehicle production in the EEC because the Thai government had a clear policy of promoting industries that focus on new technologies and innovations.

According to studies by JETRO Bangkok, more than 5,400 Japanese companies in the automotive industry and other sectors have already established their businesses in Thailand. Japanese brands produced in Thailand are Toyota, Honda, Isuzu, Mitsubishi, Mazda, Nissan and Suzuki, mostly churning out lower-priced models for sale within ASEAN.

For hybrid and electric vehicles, the Thai government provides incentives in the form of low import tariffs for importers and tax exemptions for manufacturers, but few incentives for consumers. The Electric Vehicle Association of Thailand says that, for that reason, Thailand’s electric vehicle take-up rate is too slow. Land Transport Department data show that as of 2017, there were 102,408 hybrid-electric vehicles and plug-in hybrid electric vehicles registered in Thailand, along with 1,394 battery-electric vehicles.

Three hybrid-electric vehicles models are being locally assembled since 2009, namely Toyota Camry, Honda Accord and Nissan X-Trail. Toyota assembles 7,000 hybrid-electric vehicles a year in Thailand and produces 70,000 batteries for electric vehicles.

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Japanese companies are interested in investing more in hybrid car manufacturing in Thailand, the National News Bureau of Thailand cited Hiroki Mitsumata, president of the Bangkok branch of the Japan External Trade Organisation (JETRO), as saying. The interest is focusing on vehicle production in Thailand’s Eastern Economic Corridor (EEC) mainly due to the Thai government’s investment promotion policy. Mitsumata said at a press briefing on April 22 that Japanese investors are still confident in the Thai economy despite the current period of political transition. He added that investors are particularly interested in hybrid vehicle production in the EEC because the...

Reading Time: 1 minute

Japan Keen On Investing In Hybrid Car Industry In Thailand

Japanese companies are interested in investing more in hybrid car manufacturing in Thailand, the National News Bureau of Thailand cited Hiroki Mitsumata, president of the Bangkok branch of the Japan External Trade Organisation (JETRO), as saying.

The interest is focusing on vehicle production in Thailand’s Eastern Economic Corridor (EEC) mainly due to the Thai government’s investment promotion policy.

Mitsumata said at a press briefing on April 22 that Japanese investors are still confident in the Thai economy despite the current period of political transition. He added that investors are particularly interested in hybrid vehicle production in the EEC because the Thai government had a clear policy of promoting industries that focus on new technologies and innovations.

According to studies by JETRO Bangkok, more than 5,400 Japanese companies in the automotive industry and other sectors have already established their businesses in Thailand. Japanese brands produced in Thailand are Toyota, Honda, Isuzu, Mitsubishi, Mazda, Nissan and Suzuki, mostly churning out lower-priced models for sale within ASEAN.

For hybrid and electric vehicles, the Thai government provides incentives in the form of low import tariffs for importers and tax exemptions for manufacturers, but few incentives for consumers. The Electric Vehicle Association of Thailand says that, for that reason, Thailand’s electric vehicle take-up rate is too slow. Land Transport Department data show that as of 2017, there were 102,408 hybrid-electric vehicles and plug-in hybrid electric vehicles registered in Thailand, along with 1,394 battery-electric vehicles.

Three hybrid-electric vehicles models are being locally assembled since 2009, namely Toyota Camry, Honda Accord and Nissan X-Trail. Toyota assembles 7,000 hybrid-electric vehicles a year in Thailand and produces 70,000 batteries for electric vehicles.

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