Thai Prime Minister Experiences Tesla’s Cyber Truck and Discusses Investment Opportunities
Thai Prime Minister Srettha recently had the opportunity to visit Tesla’s electric vehicle (EV) manufacturing plant, where he test drove the company’s highly anticipated Cyber Truck ahead of its US unveiling later this month. During his visit, the prime minister engaged in discussions with Tesla executives regarding potential investment opportunities in Thailand.
The prime minister expressed his optimism as the executives displayed a keen interest in investing in the country. According to them, a decision on the matter is likely to be made in the first quarter of the upcoming year. This development comes as Thailand focuses on attracting investments in key industries such as EVs, electronics, and digital.
The EV industry in Thailand has experienced remarkable growth, with a 700% increase and the registration of 6,000 EVs in the past nine months alone. The government is dedicated to establishing Thailand as the primary EV production hub in the region. To support this goal, the National EV Policy Committee, chaired by the prime minister himself, has approved a new EV incentive package known as EV3.5. This package will replace the expiring incentive package on December 31.
During his visit, Prime Minister Srettha also engaged with executives from HP Inc., a prominent company specializing in personal computers, laptops, and printers. He extended an invitation to HP to invest in Thailand, suggesting the establishment of a regional office and production base to facilitate supply chain development.
Emphasizing Thailand’s accommodating infrastructure, the prime minister assured potential investors that the government has implemented policies to facilitate ease of doing business and promote foreign investment. In the discussions with HP, tax incentives were also considered to aid the company in expanding its production capacity.
In addition to Tesla and HP, the prime minister also held talks with executives from Analog Devices, a leading global integrated circuit manufacturer. These discussions revealed the company’s interest in establishing a plant in Thailand, further emphasizing the country’s position as an attractive investment destination.
Prime Minister Srettha’s visit to the United States for the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco highlights Thailand’s commitment to engaging with global business leaders and exploring investment opportunities in various sectors. The prime minister’s discussions with Tesla, HP, and Analog Devices exemplify Thailand’s dedication to becoming a hub for advanced industries and technology.
As Thailand continues to prioritize and invest in key sectors such as EVs, electronics, and digital, the country is well on its way to becoming a major player in the global market. The government’s initiatives, combined with the interest and potential investments from renowned companies like Tesla, HP, and Analog Devices, are expected to contribute significantly to Thailand’s economic growth and development.
