Thailand's Prime Minister Courts Tesla for EV Investment

The Southeast Asian nation, known as the 'Detroit of the East', is preparing incentives to boost its electric vehicle manufacturing sector.

Thailand's Prime Minister Srettha Thavisin has been courting Tesla for potential investment, showing executives around industrial estates in the country.
Thailand, known as the 'Detroit of the East', is the largest car producer and exporter in Southeast Asia, with a strong presence of Japanese manufacturers like Toyota, Isuzu, and Honda.
The Thai government aims to convert about a third of its annual production of 2.5 million vehicles into electric vehicles (EVs) by 2030 and is preparing incentives to encourage more investment in EV manufacturing.
EVs have been gaining traction in Thailand, accounting for around half of all EV sales in Southeast Asia in the second quarter, spurred by a government subsidy of up to 150,000 baht per car.
Tax cuts and subsidies have already attracted Chinese carmakers, including BYD and Great Wall Motor, which have committed to investing $1.44 billion in new production facilities in the country.