The chief executive of BMW in Thailand says the group plans to build a battery factory for electric vehicles in Rayong, on the country’s eastern seaboard this year, according a report by the Bangkok Post, which said the group made this decision because China is expanding its EV investment and supply chains in the country, and the Thai government last week endorsed the idea of cash grants for local EV battery makers, with the aim of Thailand becoming a regional hub for electric vehicles.
BMW, which has battery production plants in China and Hungary, wants Thailand to be its export base for EV batteries, but final decisions on the investment budget and production capacity would be based on factors such as market demand and the global supply of computer chips, CEO Alexander Baraka was quoted as saying.
Read the full report: Bangkok Post.
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