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2025-01-19 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >
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Shulou(Shulou.com)11/24 Report--
Chinese electric cars have become a hot item in Thailand.
Thailand recently released a list of the number of pure electric models in February, with the exception of Tesla Model Y, an American car, the other three seats are occupied by Chinese brands. Among them, BYD Atto 3 and Nezha V won the first and second place respectively, with 2068 units and 1254 units, far surpassing the third place, Tesla Model Y (534 units).
ATTO 3 has been listed first for three months in a row. Since the 10th of AutoLifeBYD3, the groundbreaking ceremony of BYD passenger car production base in Thailand was held locally. The project covers an area of about 96 hectares and is expected to be put into production in 2024 with an annual production capacity of about 150000 new energy vehicles.
On the same day, the foundation of Naha Automobile Ecological Wisdom Factory in Thailand was laid, with an annual production capacity of 20,000 vehicles, which is expected to be put into production by the end of January 2024.
According to Zhang Yong, co-founder and CEO of Naha Automobile, the Thai factory is of great significance and will become the main base for Naha Automobile to produce right-rudder electric cars and export them to ASEAN.
Although this is not the first time for Chinese car companies to build factories in Thailand, it is not common for two new energy car companies to set up factories in Thailand at the same time, which shows that Thailand and Southeast Asian markets have become popular in the eyes of more and more car companies.
In fact, for some time in the past, independent car companies, represented by SAIC, Great Wall, BYD and Xilai, have been actively promoting the export of their models to Europe. When did they set their sights on the Thai market again? What on earth is Thailand, which is not outstanding in all aspects? What is the significance of Thailand layout for Chinese car companies? All the above are the problems that this article attempts to discuss.
In addition to Nezha and BYD mentioned above, SAIC and Great Wall Motor were the first to enter the Thai market.
SAIC is one of the first domestic car companies to successfully enter the Thai market. It established a joint venture with CP Group, a well-known Thai company, in 2012, and its Mingjue brand officially entered the Thai market in 2014. Statistics show that Mingjue sold 31005 vehicles in Thailand in 2021, making it one of the top 10 Thai car brands.
Great Wall Motors has been selling very well since it entered the Thai market in 2021, and Oulaho cats in many Great Wall car stores in Bangkok have been sold out. From January to September last year, Great Wall sold more than 8000 electric vehicles in Thailand, making it the largest new energy vehicle brand by sales in Thailand. At present, Great Wall has launched three new energy vehicles, Harvard H6 HEV, Harvard JOLION HEV and Ola good Cat, for the Thai market.
Harvard H6 HEV is listed in Thailand, Picture from: with the intensification of domestic price war, the speed of survival of the fittest in the industry is accelerating, so it is not surprising for car companies to jump out of the roll and go to sea early to find a new growth curve. Li Ruifeng, CGO of Great Wall, said late last year that Chinese brands already accounted for 90 per cent of the local market for new energy vehicles in Thailand.
But unlike Norway, the first stop for Chinese electric cars, Chinese car companies go to Norway mainly to sell cars. In addition to new car sales, Thailand also builds factories, R & D centers, sales networks, charging piles, and so on.
For example, Great Wall Automobile, while selling cars to build a factory, has also set up a user experience center to create the world's first optical storage and charging supercharging station. BYD has also promised Thailand as its first production center in Southeast Asia. It has purchased a large piece of land to build a production facility with an annual production capacity of 150000 electric vehicles, which is expected to start operation in 2024. Nashi Automobile has signed a cooperation agreement with PTT, Thailand National Oil Co., Ltd., the two sides will develop Thailand's new energy market in the production and installation of charging piles, public charging services and strategic planning for future intended production. Even Foxconn is preparing to build a new plant in Thailand to produce pure electric cars, and plans to work together to build an open platform dedicated to Thailand's electric car and key parts industry, making it easier for some new car makers to make electric cars.
It can be seen that different from the previous global expansion of Chinese car companies through overseas acquisitions, this round of car companies continue to extend to the value chain of the automobile industry through new ways such as technology sea, service sea, brand sea and so on.
2. Is Thailand worth it? Before you answer this question, you need to know what the car companies see in Thailand. Car think tank believes that the two most important points, one is the vast automobile market, and the other is preferential welfare and policy.
First of all, Thailand does not have its own car brand, and most of the cars in the country are produced by foreign car companies setting up factories locally. As the largest auto producer and the second largest auto sales market in ASEAN countries, Thailand is an important auto exporter in Asia, with nearly half of its car output being exported every year. According to the statistics of the Federation of Thai Industry, Thailand produced 1.88 million cars in 2022, of which 840000 were sold in Thailand and 1 million were exported. Thailand's Kaitai Research Center estimates that the overall market size of 100 per cent pure electric vehicles (BEV) is likely to reach 50000 in 2023, up 270 per cent from 13454 in 2022.
Secondly, from the layout and production capacity of Thailand's automobile factory, Thailand has a mature automobile supply chain, which can purchase most of the parts locally and save a large part of the cost in logistics. At the same time, car companies can also use Thailand's own car manufacturing resources to start production faster.
If the vast market is the first consideration for Chinese car companies to enter Thailand, then the policy advantage of new energy vehicles in Thailand is the second biggest driving force for car companies.
In order to achieve the development goal of "electric vehicle manufacturing center and export base in Southeast Asia", Thailand has formulated the "3030" policy, that is, the replacement rate of EV electric vehicles in Thailand must be more than 30% by 2030, and the production capacity of new energy vehicles must also reach more than 30%. Thailand's electric vehicle market is growing exponentially.
At the tax level, the Thai Investment Promotion Council (BOI) provides suppliers of all types of electric vehicles with a corporate income tax exemption of up to 8 years; in terms of financial subsidies, the Thai National Electronic vehicle Policy Committee (National Electric Vehicle Policy Committee) issued a plan for the transition to zero emissions; the Thai Ministry of Finance also spent 2.923 billion baht as a car subsidy to encourage consumers to buy and use electric cars. In terms of battery industry chain, there are currently 18 projects under construction in Thailand, involving battery production, module production, module assembly and so on.
As Southeast Asia has one of the fastest annual growth rates of carbon emissions in the past decade, according to the Southeast Asia Energy Outlook (2019), carbon emissions in the region will climb from 1.4 billion tons in 2018 to nearly 2.4 billion tons in 2040. Therefore, the requirements to deal with global climate change and promote green travel are also forcing Southeast Asian countries to promote the popularization and development of new energy vehicles.
In addition, the increasingly high tariffs in India next door give a lot of opportunities to Southeast Asia.
According to India's current tariff policy, the tariff on imported cars is 60% Mur100%, including 60% for imported cars selling for less than 3 million Indian rupees (262200 yuan), while most of Tesla's products exceed this price. you have to pay a 100 per cent tariff to the Indian government, thus discouraging a large number of car companies that do not want to build factories.
In addition to Tesla, Mercedes-Benz and Hyundai Motor have all called for the Indian government to lower the tax on imported cars, but have not been adopted.
For car companies that want to achieve local production, India also has the meaning of "rejecting people thousands of miles away". In July last year, Great Wall's plan to buy GM's Indian plant was repeatedly thwarted by approval issues, forcing it to abandon its original plan to invest 3.5 billion yuan in India and buy GM's Indian plant. On the contrary, this has given Southeast Asia a lot of opportunities. According to media reports, Tesla submitted an application to enter the Thai market in May last year after his plans to enter the Indian market were thwarted.
3. It is the right time for Deloitte to point out in the report "the second growth curve of Chinese auto companies leaping from going out to globalization" that Chinese auto companies have leapt from the "products out to sea" 10 years ago to the current "globalization of the value chain". In other words, more car companies will go to sea in the form of full value chain, such as research and development, manufacturing, logistics and transportation, auto finance, and so on, to realize the omni-directional export of Chinese automobile brands and products.
At the "China Electric vehicle 100 people Forum" held in early April, an Conghui, president of Geely Holdings and polar krypton intelligent technology, an Conghui, believed that China's new energy vehicle industry has become internationally competitive after more than a decade of careful cultivation by the government, and large-scale going out to sea will help to further unleash the vitality of innovation and growth.
Deep Blue CEO Deng Chenghao also told the car think tank that the Southeast Asian market is relatively close to the consumption habits of domestic consumers, and the Southeast Asian market has a bright future.
Although the prospect of going out to sea is broad, the road for new energy car companies to go to sea is not easy. Before Southeast Asia, Europe was another hot land out to sea, and car companies such as Weilai, Xiaopeng and BYD successively sounded the horn of attack. However, after years of twists and turns, the trip to the sea has had little effect, and most car companies have not found much increment.
There are also many challenges in this attack on Southeast Asia. Many countries in Southeast Asia have a right-hand rudder system, so for domestic mainframe manufacturers, they also need to customize the chassis and parts, adjust the production line and mold costs as high as tens of millions of dollars.
More importantly, in the era of fuel cars, Japanese cars accounted for about 90% of Thailand's consumer market. As the first car company to enter the layout production line in Thailand, Japanese cars also control the automobile industry chain, dealer channels, upstream and downstream parts suppliers and other production supply chains.
But does it mean that China's new energy car companies have no chance?
"almost 90% of the cars in Southeast Asia are Japanese cars, and it is obvious that Japanese cars must have lagged behind in this transformation." Wang Chuanfu said at the 2022 results announcement investor promotion meeting held on March 29.
As the electric transformation of Japanese cars is very slow, to a certain extent, it has dragged down the speed of Thailand's electrified transformation, so it is necessary to seize this gap and press the acceleration button of Japanese cars in the new round of electrification.
First, under the condition of ensuring that the price is competitive and the configuration is not degraded, we should seize the consumers of fuel vehicles and break the long-term monopoly position of Japanese manufacturers in the Thai market.
Second, it is necessary to strengthen product research and development. In addition to the core technology, it is also necessary to output solutions that "adjust measures to local conditions", make different product strategies for different markets, and adjust specific models.
Third, it is necessary to speed up the construction of charging infrastructure. The charging problem, as a sharp sword hanging from the head of new energy vehicle companies, is not solved, and the input-output ratio of pure electricity development is very low.
[full text reference]
[1] "BYD will still be a big brother if he doesn't go to the United States." Hu sniff APP, Wang Xiaoyu
[2] "AEO Monthly talk "China and Thailand recognize the opportunities for Chinese enterprises to go to sea"
[3] "Why are car companies huddled in Thailand? "Automobile Commune, Yang Jing
[4] "tens of thousands of shipments! A new batch of BYD ATTO 3 set sail for Thailand ", BYD cars
This article comes from the official account of Wechat: che Bai think Tank (ID:EV100_Plus). Author: Zhou Shuangjiang.
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