Japan's Isuzu Motors to produce EV pickup trucks in Thailand (updated)

Isuzu Motors

21/03/2024 08:43

(Updates with background after paragraph 2)
       BANGKOK, March 21 (Reuters) - Japanese automaker Isuzu
Motors  7202.T  plans to use Thailand as a production base for
an electric version of its D-MAX pickup truck, with a plan to
start exports next year, a Thai government spokesperson said on
Thursday.
    Chai Wacharonke said the firm plans to invest 1 trillion yen
 ($6.62 billion) in research and development by 2030, including
in a testing centre.     
    The electric D-MAX will be exported from Thailand starting
in 2025 to countries like Norway, Britain, Australia and others,
Chai said. 
        Isuzu will unveil the company's first electric D-MAX
pickup truck at the Bangkok International Motor Show next week,
according to its website. The company did not respond to a
Reuters request for comment on its investment plans in Thailand.
  
        Auto makers, led by Chinese brands, are rushing to build
EV facilities in Southeast Asia's second-largest economy.
  
        Thailand is a regional auto assembly and export hub,
which has long been dominated by Japanese brands like Toyota
Motors  7203.T  and Honda Motor Co  7267.T . 
        It has drawn 
    $1.4 billion worth of investment from Chinese automakers
like BYD  002594.SZ  and Great Wall Motor  601633.SS  to build
production facilities. 
        This month, German automaker BMW  BMWG.DE  began
construction of a high-voltage battery production facility in
Thailand's Rayong province with plans for an EV assembly plant
by 2025. 
  
        The country is offering incentives, tax breaks and other
measures to boost EV production and convert 30% of its annual
production of 2.5 million vehicles into EVs by 2030. 
  

($1 = 151.0000 yen)

 (Reporting by Panarat Thepgumpanat and Chayut Setboonsarng;
Writing by Martin Petty; Editing by Kanupriya Kapoor)
 ((martin.petty@tr.com;))