Changan to build NEV workshop in Thailand

Changan Auto's workshop in Liangjiang New Area, Southwest China's Chongqing municipality. [Photo/liangjiang.gov.cn]

Changan Auto signed a cooperation agreement on Oct 17 with the Board of Investment of Thailand at the entrepreneurs' conference of the third Belt and Road Forum for International Cooperation.

According to the contract, Changan will invest 1.77 billion yuan ($246.56 million) in Thailand to build a new energy vehicle (NEV) workshop there, with the first phase to generate 100,000 vehicles annually.

The investment plan was meant to meet the rapidly increasing demand for electric vehicles (EVs) in the Thai and ASEAN markets.

The board and Changan carried out in-depth exchanges before signing the project agreement, and the former lauded the latter for its advanced NEV production models and technology reserves. The Thai government has also supported EV development by rolling out a host of favorable policies and incentives for automakers.

Agreements for a number of projects were inked at the entrepreneurs' conference, involving 68 countries and regions and spanning infrastructure, clean energy, AI, biomedicine, financial services, modern agriculture, and rail transit.