Elon Musk’s company, Tesla, enters the Thai market

Tesla is now a registered company in Thailand, and will sell its electric vehicles, batteries and solar panels.

According to information found on the Department of Business Development website, the company registered on May 25, with an initial registration capital of 3 million baht.

Tesla’s primary focus in Thailand is to sell electric vehicles, or EVs.

The company will also install and sell energy storage systems and power generation systems.

It looks like Tesla will just sell cars in Thailand rather than produce or assemble cars in the kingdom.

Tesla’s arrival in Thailand is part of the government’s policy to encourage the use of electric vehicles to reduce carbon emissions.

In March, the Thai government approved a budget of 3 billion baht to subsidize the retail price of EVs for customers in Thailand.

See: Thailand supports electric vehicles

The government will also reduce income tax for EVs.

Last March, Great Wall Motor and MG Camp agreed to participate in the government’s project and put a total of 2,000 EVs on sale in Thailand.

Benz, BMW, Honda, Mitsubishi, Nissan, Foxconn and Neta have also expressed interest in selling EVs in Thailand.

Now we can add Tesla to the list.

The Bangkok Metropolitan Administration has started installing EV charging stations around the city, for example in Benjakitti Park.

To encourage the switch to EVs, the government has made the use of charging stations free.

Meanwhile, Tesla has sought to establish a foothold elsewhere in Southeast Asia. Indonesia appears to be the biggest potential market, where Tesla has agreed to build a battery and EV factory at an industrial complex in Java province.

Tesla also intends to establish “supercharger sites” in Malaysia, presumably to help Singaporean Tesla vehicles operate on Malaysian roads.

Tesla vehicles already present in Thailand

Tesla Model 3 electric cars bought by Thai police

If Tesla officially arrives in the country, there are already quite a few Tesla vehicles in Thailand.

They were privately imported by their owners, and this is a factor that Tesla takes into account when beginning its entry into a new market.

If many people are willing to go to the trouble of importing vehicles, chances are there is a market for their vehicles in the country.

In 2020, the Thai police also purchased a fleet of Tesla Model 3 vehicles for police patrols.

According to documents first reported by Blink Drive, Thai police purchased a fleet of 7 Tesla Model 3 vehicles and turned them into patrol vehicles:

However, even with the lower cost of fuel, the decision was most likely not financial as the fleet would have cost the Thai police 89 million Thai baht ($2.76 million).

A large automotive market

The Thai car market is bigger than most people realize; more than 750,000 cars were sold in the market last year, and it is expected to reach 800,000-900,000 this year.

However, most of these vehicles are not in the same price range as Tesla vehicles.

See: Chinese company offers low-cost electric cars in Thailand

Thailand is the first country in Southeast Asia where Tesla will officially sell its vehicles.

See as well :

Shortage of spare parts affects Thailand’s auto industry

Rising oil prices: a boon for Thailand’s electric vehicles

Source: Electrek, The Thaiger

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