Chinese companies are increasing their investments in Thailand, particularly in the electric vehicle (EV) industry. Despite political uncertainties, Chinese electric car manufacturers are drawn to Thailand due to its status as a production and distribution hub. This was highlighted at the 16th World Chinese Entrepreneur Convention (WCEC), where the chairman of the Thai-Chinese Chamber of Commerce stated that major Chinese EV players are targeting Thailand for investment. China’s Hozon New Energy Automobile Co, for example, aims to sell 15,000 EVs in Thailand by 2023. The Thai government has also expressed its support for the EV industry, with a goal to have EV production account for 30% of total auto manufacturing by 2030. Chinese companies are attracted to Thailand’s stable and friendly business environment, coupled with various investment incentives for EV investors.
