Geely, a Chinese automaker, is reportedly in the early stages of planning its entry into Thailand’s electric vehicle (EV) market. According to reliable sources familiar with the matter, Geely is currently considering various models for importation and local manufacturing.
Sources, who spoke on the condition of anonymity, revealed that Geely is deliberating the possibility of introducing an entry-level electric car in Thailand, as well as an electric pickup truck under its new Radar brand. However, a representative from Geely’s media department declined to comment on these discussions and provided no further details regarding any potential investments in the country.
In April, Thailand’s Board of Investment engaged in talks with five major Chinese EV manufacturers, including Geely, during a roadshow to China. The agency’s Secretary-General, Narit Therdsteerasukdi, confirmed that Geely, along with BYD Co Ltd, Chongqing Changan Automobile Co Ltd, JAC Motors, and Jiangling Motors Corp Ltd, expressed keen interest in Thailand’s policy to develop a regional EV production base and an integrated EV supply chain.
As the world’s tenth-largest automobile producer, Thailand is actively seeking new investments to safeguard and diversify its manufacturing base, which has historically relied heavily on Japanese brands and combustion engines. The government aims to convert approximately 30% of the country’s annual vehicle production, totaling 2.5 million units, into EVs by 2030.
BYD and China’s Great Wall Motor Co Ltd have already initiated local EV production in Thailand. However, discussions with Geely have faced additional complexities due to the operational autonomy granted to its brand-level operating groups, such as Geometry and Radar Auto.
One source familiar with the discussions stated that Geely needs to determine which models it intends to introduce in Thailand, while also considering the feasibility of establishing a manufacturing facility in the country.
Thailand offers subsidies for EVs to manufacturers who commit to bringing car and parts production to the country over an extended period.
Geely, which boasts an impressive portfolio of brands, including Volvo, Polestar, Lotus, and Zeekr, recently increased its stake in luxury automaker Aston Martin. The company also holds a 49.9% stake in Malaysian carmaker Proton, establishing its presence in Southeast Asia.
Geometry, an electric car brand launched by Geely in 2019, experienced a significant surge in sales in China in 2022, primarily driven by the popularity of the Geometry A sedan. Additionally, Geely commenced deliveries of the Radar RD6, China’s first mass-market electric pickup truck, in February.
China’s Great Wall Motor is also contemplating the establishment of a research and development center in Thailand, focusing on battery-powered pickup trucks.
Pickup trucks play a crucial role in Thailand’s auto market, constituting over half of overall light vehicle sales last year, with Japanese automakers like Toyota Motor Corp and Isuzu Motors Ltd dominating this segment.
