The Thai government is actively attracting electric car manufacturers. Will Xiaomi join?

According to news on October 19, Thai Prime Minister Saitha recently met with Lin Shiwei, Vice President and Chief Financial Officer of Xiaomi Group, and invited Xiaomi Group to expand its market share in Thailand and increase its investment scale. Saita said he is confident in turning Thailand into an electric vehicle production center in Southeast Asia and will provide relevant support measures. This news triggered speculation among netizens about whether Xiaomi Motors will build a factory in Thailand.

In recent years, with the rapid growth of the global electric vehicle market, more and more companies have begun to look for opportunities in this field. The Thai government is actively promoting Thailand to become an electric vehicle production center in the ASEAN region, and has introduced a series of industrial policies covering tax exemptions, consumer incentives, investment incentives, etc. These policies have attracted the attention of many automobile manufacturers, who have expressed their hope to set up electric vehicle production plants in Thailand.

Since this year, many Chinese car manufacturers have listed the Thai market as an important target. Changan Automobile has established multiple entities in Thailand, including marketing, manufacturing and parts supply. In addition, SAIC Group's Thailand New Energy Industrial Park officially laid the foundation in May this year, and BYD also started construction of its Rayong factory in Thailand in March this year. Also in March, Nezha Automobile announced the construction of a smart ecological factory in Thailand. In addition, companies such as Chery Automobile have also expressed interest in setting up factories in Thailand.

For Chinese technology giants like Xiaomi, the invitation from the Thai government undoubtedly provides a new opportunity. Media analysis pointed out that Xiaomi is actively looking for suitable production facilities to support its business growth in multiple fields, including electric vehicles. If Xiaomi can establish a production base in Thailand, it will help improve its competitiveness in the global market.

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