Tesla Launches EVs In Thailand Amid Competition From Cheaper Brands
1 mins read
Published on December 11, 2022
Tesla Inc launched two electric vehicle (EV) models in Thailand on Wednesday, marking its first foray into the regional autos hub that has long been dominated by Japanese manufacturers.
The launch of two EVs with prices ranging between 1.7 million baht to 2.5 million baht (($48,447 to $71,205) comes as Thailand makes a push for EV adoption and production by offering tax cuts and subsidies.
The U.S. automaker plans to start selling its EVs in Southeast Asia's second-biggest economy via online channels, with deliveries set to start early next year. But it faces stiff competition from Chinese brands like BYD and Great Wall Motors, which have set up showrooms and distribution partners in recent years to reach customers and offer EVs with prices starting at 800,000 baht.
Tesla did not provide details on sales targets.
Thailand is Asia's fourth-largest auto assembly and export hub for companies like Toyota Motor Corp and Honda Motor Co Ltd. It produces about 1.5 million to 2 million vehicles annually, of which about half are exported.
Fuel-based vehicles, especially made by Japanese brands, still dominate the market and uptake of EVs has gradually gained momentum, with about 7,000 new battery EVs registered in the first ten months of 2022, according to the Thailand Automotive Institute, up from 2,000 last year.
Customers who showed up to Tesla's launch in a luxury mall in central Bangkok said they were interested in the new cars being offered.
"I'm excited. The price differences aren't significant (from other EV brands)," said office worker Thitipun Paisirikul, 36, adding he expected the re-sale value of the car would be high.
The government wants at least 30% of vehicles produced in the country to be electric by 2030.
State-owned energy firm PTT Group this year announced a $1 billion joint venture with Taiwan's Foxconn to produce EVs in Thailand.
Great Deals on Used CarsView All Used Cars
- 8,333 km
- 6,803 km
- 50,561 km
- 57,000 km
- 15,666 km
- 30,571 km
- 13,000 km
- 39,000 km
- 67,255 km
- 35,249 km
2 hours ago
The latest iteration gets a slew of updated features and mechanical upgrades.
4 hours ago
The brand is offering free service support through its dealer network in Chennai and other affected areas.
5 hours ago
Toyota and its dealer partners have set up a special emergency helpline number and have a deployed the Hilux pickup for rescue and movement of submerged vehicles
8 hours ago
Starting from December 8, 2023 customers affected by the flash floods can avail free RSA, engine check-ups and other service benefits at the Yamaha service centers
8 hours ago
MG Motor India has introduced a December Fest sale with sizable benefits across its lineup with offers valid until December 31
9 hours ago
Ducati said that the price increase was due to a rise in operational costs and will affect select motorcycles on sale
10 hours ago
The Q6 e-Tron will boast an 800-volt electrical system, a 100 kWh battery offering a range of 373 miles, and dual electric motors generating up to 510 horsepower
The made-in-India sport bike is powered by a 457 cc parallel-twin engine that puts out a peak 47 bhp.
The new Triumph Bonneville Stealth Editions come with special hand-painted colours that change hues depending on the light
The W175 Street gets alloy wheels and tubeless tyres, aside from new paint finishes
10 days ago
The updated Tesla Model 3 gets the “Active Hood” feature to reduce pedestrian injuries in the event of a collision
15 days ago
Nissan will produce the next generation Leaf Electric crossover at the Sunderland plant in the UK, alongside the next all-electric Qashqai and Juke confirmed to arrive from the same plant
18 days ago
Utility-focused e-scooter is likely to be offered in multiple variants, including one targeted at the B2B sector.
21 days ago
A YouTuber from Vietnam recently shared videos and images of his fully functional Cybertruck replica made out of wood and caught the attention of Tesla co-founder and CEO, Elon Musk.
22 days ago
The all-new model, which will be the second product line from the Bengaluru-based start-up, appears to be notably larger than its 450 series scooters.