Thailand seeks German investment in electric vehicle industry
Deputy Prime Minister Parnpree Bahiddha-Nukara announced on a recent official trip to Germany, the Thai government’s intention to attract German automobile manufacturers to invest in Thailand’s burgeoning electric vehicle (EV) industry. This initiative is part of the broader plans for Prime Minister Srettha Thavisin’s official visit to Germany next month.
The deputy prime minister, who also serves as the foreign affairs minister, embarked on his official German trip last Wednesday, concluding today. The visit’s agenda surpasses just diplomacy. It is also a preparatory measure for the prime minister’s impending visit on March 15, Parnpree revealed.
Multiple investment projects are on the Thai government’s plate to propose to German investors. These projects encompass various sectors, including the colossal Land Bridge megaproject, semiconductors, a data centre, and notably, EV manufacturing.
Parnpree disclosed that the government is particularly eager to invite German car manufacturers to invest in Thailand’s EV industry, considering Germany’s standing as a significant automobile producer, reported Bangko Post.
On the subject of Thailand’s registration as a member of the Organisation for Economic Co-operation and Development (OECD) to boost trade and investment, Parnpree admitted that it is a process that requires time, potentially up to two years.
“Thailand must apply first to express our intention to become a member.”
Upon receipt of the application, Thailand stands a better chance of joining the 38-member OECD. Membership would set standards for Thailand concerning the environment, finance, and trade negotiations with developed countries, Parnpree said.
Among the deputy prime minister’s itinerary was a visit to the Mercedes-Benz facility in Bremen, a core site for the brand’s plug-in hybrid and EV car manufacturing since 2019. Parnpree expressed Thailand’s eagerness to promote the use of EVs and readiness to support Mercedes-Benz in their Thai investment ventures during his visit.
Parnpree also engaged in discussions with Michael Frieß, the factory’s Head of Production and Location Representative, about the brand’s strategy for EVs and sustainability. Both parties concurred on the significance of using clean energy.
Back in Thailand, PM Srettha has expressed his ambition to transform the country into a Future Mobility Hub, according to spokesperson Chai Wacharonke. The EV Policy Board, on Wednesday, also agreed on measures to stimulate energy storage system (ESS) manufacturing investment. Eligible investors and operators can now apply for funds from the Board of Investment until 2027, Chai disclosed.
