Tesla Inc has launched two electric vehicle (EV) models in Thailand, marking its first foray into the regional autos hub that has long been dominated by Japanese manufacturers.
The launch of two EVs with prices ranging between 1.7 million baht to 2.5 million baht (US$48,447 to $71,205) comes as Thailand makes a push for EV adoption and production by offering tax cuts and subsidies.
The U.S. automaker plans to start selling its EVs in Southeast Asia’s second-biggest economy via online channels, with deliveries set to start early next year. It nevertheless faces stiff competition from Chinese brands such as BYD and Great Wall Motors, which have set up showrooms and distribution partners in recent years to reach customers and offer EVs with prices starting at 800,000 baht.
Tesla did not provide details on sales targets.
Thailand is Asia’s fourth-largest auto assembly and export hub for companies like Toyota Motor Corp and Honda Motor Co Ltd. It produces about 1.5 million to 2 million vehicles annually, of which about half are exported.
The government wants at least 30% of vehicles produced in the country to be electric by 2030. (NNT)
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