GAC Aion to invest 6 billion baht in Thai EV market expansion

China‘s third-largest electric vehicle (EV) producer, GAC Aion, is gearing up to expand its operations in the Thai market. In an ambitious plan, the automaker pledged to pour over 6 billion baht into the establishment of manufacturing and sales facilities in Thailand.

This noteworthy market penetration comes as the result of the Board of Investment’s (BoI) careful arrangement involving seven diverse state and private entities. This multi-faceted alliance of agencies convened on July 6 to streamline and expedite the administrative components of GAC Aion’s proposed expansion.

An amalgamation of the Excise Department, the Customs Department, the Office of Industrial Economics, the Department of Business Development, the Department of Land Transport, the Industrial Estate Authority of Thailand, and the Thai Subcontracting Promotion Association forms the complete stratum of this initiative.

Confirming the developments, Narit Therdsteerasukdi, the current secretary-general of the BoI, emphasised how essential the BoI was in seamlessly integrating relevant governmental bodies and the private sector to expedite information in a ‘one-stop service,’ illustrating Thailand’s readiness to facilitate investors and stimulate enterprise in the locale.

This step aligns with the broader strategy of establishing Thailand as a major hub for the production of EVs and their respective components. The BoI unveiled a robust package of promotional measures that will attract and incentivise investment in this sector.

In a parallel endeavour, the Finance Ministry, through the Excise and Customs departments, is offering fiscal incentives to invigorate the domestic EV market.

Leading the GAC Aion Thailand project is Ma Haiyang, whose role encompasses the responsibility of deploying the operations in Thailand.

A delighted Ma said…

“We are very impressed by the support from the government agencies. This makes us feel confident and allows investors like Aion to do business with ease and to start operations quickly.”

In its push to excel in the Thai market, GAC Aion is evolving its “Intelligent Connected Vehicles: ICV” platform. This innovation contains a smart battery system which is expected to boost the driving range to an impressive 1,000 kilometres, reported Bangkok Post.