Chinese automaker Changan has supplied 443 Deepal electric vehicles to Krungthai Bank in Thailand as part of a fleet order aimed at supporting the lender’s goal of transitioning entirely to electric mobility by 2030.
The vehicles are being provided through asap Car Rental, a leasing company based in Samut Prakan Province. Krungthai Bank has already taken delivery of the first batch under the agreement.
The order includes three Deepal models—the S05 compact SUV, the S07 mid-size SUV and the L07 mid-size saloon—though Changan has not disclosed the breakdown by model. Retail prices for the vehicles in Thailand range from 799,000 baht ($21,300) for the S05 to 1,399,000 baht ($37,400) for the S07 and 1,329,000 baht ($35,500) for the L07.
Changan began assembling the S05 in May at its new energy vehicle plant in Rayong Province, the company’s first overseas NEV facility. The model was also launched in Europe last week at IAA Mobility 2025.
Krungthai Bank started integrating EVs into its fleet in 2022 and has since leased 326 units, according to its 2024 sustainability report. It plans to replace 1,945 internal combustion vehicles with electric models by 2030 and aims to operate 680 EVs by year-end. The latest deal suggests asap Car Rental could deliver the full batch of 443 Deepal vehicles by 2026.
The bank reported cutting more than 238 tonnes of CO2 equivalent emissions from EV use between 2022 and 2024.
