During the visit of Japan’s Prime Minister to Thailand, the two countries pledged closer economic cooperation, with Japan committing to an investment in the electrical vehicles industry in the special economic zone of Thailand called Eastern Economic Corridor in 2022.
The Japanese Prime Minister highlighted how Thailand has potential for investments by Japanese firms, which consider the country as the most important investment base in Southeast Asia.
Notably, in May 2022 Thailand reached a deal with Toyota for the manufacturing of electric vehicles in the country.
The agreement signed by the Thai government and Toyota, grant the carmaker subsidy and tax privileges for its electric vehicles. The company is looking to its Toyota bZ4X model to take advantage of these conditions.
In announcing the deal, Toyota highlighted a project named as the Decarbonized Sustainable City in collaboration with Pattaya City, on the east coast of the Gulf of Thailand. The project, initiated in 2020, is a joint collaboration between Toyota, Motor Thailand, Pattaya city and Osaka Gas. It involves a wide range of alternative energy vehicles to be introduced as public transport, while clean energy systems will also be implemented through biogas technologies for generating electricity for electric vehicles’ charging stations.
The project aims to stimulate investment in the Thai electric vehicle manufacturing industry. According to Toyota, it plays a crucial role to propel Thailand toward a premier regional hub for Toyota.
(Sources: The Nation Thailand; Bangkok Post; electrive.com)
