Great Wall Motor to launch eight EV models in Thailand next year

Image courtesy of Great Wall Motor, Facebook

Great Wall Motor (GWM), the Chinese auto manufacturer, announced its intentions to begin the production of eight electric vehicle (EV) models at its Rayong factory in the early part of next year. This move is in response to the surging demand for EVs, a trend that is predicted to boost Thailand’s total EV sales to 100,000 cars by 2024.

The compact Ora Good Cat is set to be the first model of the local production line, according to Narong Sritalayon, the managing director of Great Wall Motor (Thailand).

The Ora Good Cat has already seen robust sales in Thailand, with a total of 8,500 units sold, while the Haval sport utility vehicles have sold up to 15,000 units.

Narong, speaking at the recent launch of Tank, an off-road EV, revealed the company is deciding on our EV production capacity under an investment privilege package granted by the Board of Investment. The plan is to manufacture EVs for both domestic sales and export.

GWM has invested 22.6 billion baht in the construction of an EV factory situated in the Eastern Economic Corridor (EEC).

The investment also covers EV charging facilities, showrooms, and an R&D centre. Narong stated that the company aims to expand its business while lending support to the Thai government’s efforts to build the EV industry.

EV Policy Committee

In 2021, the National EV Policy Committee declared its ambition for EVs to make up 50% of locally produced vehicles by 2030. This is part of a larger plan to establish Thailand as a regional EV hub. Following this trajectory, GWM projects total EV sales in Thailand to reach 70,000 units this year, with an increase to 100,000 in the following year.

Vudhigorn Suriyachantananont, vice-president for marketing at Great Wall Motor ASEAN, indicated that the company plans to further expand its showroom presence, including those operated by the company and its business partners, aiming for a total of 78 this year.

GWM is also planning to increase its EV charging facility network to cover 55 areas this year. This move, according to Vudhigorn, is aimed at assisting the government in developing the EV ecosystem in Thailand.

The company is optimistic about the sales prospects of its Tank off-road EV in Thailand. GWM predicts that this model will gain a 5% market share this year, with an expected increase to 8-10% by 2024, reports Bangkok Post.

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Alex Morgan

Alex is a 42-year-old former corporate executive and business consultant with a degree in business administration. Boasting over 15 years of experience working in various industries, including technology, finance, and marketing, Alex has acquired in-depth knowledge about business strategies, management principles, and market trends. In recent years, Alex has transitioned into writing business articles and providing expert commentary on business-related issues. Fluent in English and proficient in data analysis, Alex strives to deliver well-researched and insightful content to readers, combining practical experience with a keen analytical eye to offer valuable perspectives on the ever-evolving business landscape.