BMW Eyes Thailand For Electric Vehicle Battery Factory

German automaker the BMW Group has revealed plans to establish an electric vehicle (EV) battery factory in Thailand.

The move is in response to China’s growing EV investment and supply chains in the Southeast Asian nation and will bolster BMW’s sales of battery EVs and plug-in hybrid EVs.

Following the opening of plants in China and Hungary, BMW’s president and CEO, Alexander Baraka, revealed that Thailand will be the first Southeast Asian country to house a BMW EV battery production facility.

The Thai EV market is witnessing rapid growth, fuelled by government policies aimed at promoting the industry and positioning Thailand as a regional hub of EV production.

Last week, the National Electric Vehicle Policy Committee approved cash grants for local EV battery cell manufacturers and promoted energy storage systems with financial support from the Competitiveness Enhancement Fund.