Chery's Subsidiary Omoda & Jaecoo Thailand Plans New EV Factory in Rayong

2024/03/21
Production & Sales, General News
Chery
Malaysia
Thailand
Omoda & Jaecoo Thailand, a subsidiary of Chery, is planning to establish a new electric vehicle (EV) factory in Rayong, Thailand. Production is scheduled to commence in 2025, initially catering to domestic and ASEAN markets, with plans to later serve Oceania and the Middle East. The manufacturing process will be divided into two phases, starting with an annual production capacity of 50,000 units in 2025, which is set to increase to 80,000 units by 2028. Qi Jie, Vice-Managing Director for South Asia at Chery International, stated that BEVs will constitute 70% of the total car production, with PHEVs making up the remaining 30%. Thailand's EV3.5 incentive scheme, which includes subsidies and tax reductions to promote EV production and purchases from 2024 to 2027, is expected to boost the development of the EV industry. Chery is anticipated to finalize investment details next month, with funds allocated for land acquisition, factory construction, and EV charging infrastructure development. Currently, O&J's vehicles are CBU imported from China, with a sales target of 6,000 units this year for the Omoda C5 EV and Jaecoo 7 plug-in hybrid. The company aims to set up 35 showrooms in Thailand, with 20 located in Bangkok.
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