Tesla, Google, Microsoft eye US$5 billion investment in Thailand

Picture courtesy of Bangkok Post

Thailand anticipates a minimum of US$5 billion (160 billion baht) investment from tech giants Tesla, Google, and Microsoft, as shared by Prime Minister Srettha Thavisin. Tesla is considering establishing an electrical vehicle (EV) manufacturing facility, while Microsoft and Google are exploring data centres, PM Srettha today stated, without specifying whether this projected US$5 billion was an aggregate investment or an individual commitment from each corporation.

Regarding queries for comments, Tesla, Google, and Microsoft have yet to respond. PM Srettha conveyed this news to journalists in Bangkok, following his attendance at the UN General Assembly in New York where he had discussions with the executives of these companies earlier in the week.

A surge in foreign investment could enhance Thailand’s sluggish economy. The country’s economic growth this year is anticipated to be 2.8%, a figure lower than previous forecasts, primarily due to dwindling exports.

Last week, the 61 year old Srettha talked with Tesla CEO Elon Musk concerning the EV industry. Thailand, ranked as Asia’s fourth-largest automobile assembly hub, has been providing incentives to EV and battery manufacturers, along with tax reductions to local EV purchasers, striving to maintain its status as a regional automotive centre, Bangkok Post reported.

In related news, on Friday, July 21, following its debut in Thailand at the end of last year, US-based automobile giant Tesla continues to expand its influence in the Thai market. With a test centre open in Ramkhamhaeng, customers can try driving various Tesla models as they wish, buy Tesla products, and pick up their ordered Tesla cars.

Tesla plans to increase the number of supercharging stations throughout Thailand, building on the existing charging stations around Bangkok (centralwOrld, Central Rama 3, and ICONSIAM).

The introduction of Tesla is exciting for the Land of Smiles, as it can potentially help tackle gas emission issues in the transport sector and introduce self-driving capabilities, Read more about this news HERE.

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Atima Homtientong

Atima is a dedicated news writer living in Bangkok. With a degree from Mahidol University, she focuses on reporting key issues and happenings around the country. In her off time, Atima enjoys writing and producing music.

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