BMW is already heavily invested in the country with Thailand being its top export hub in the region.
As per Thailand’s Industry Minister, BMW is considering setting up a new factory which will manufacture batteries for hybrid vehicles in the country.
The German manufacturer is likely to start the construction of the same by the middle of next year. Industry Minister Atchaka Sibunruang said BMW will invest $57 million (2 billion baht) for the new factory which will make the cost of hybrid vehicles more affordable for consumers in Tahiland.
“Hybrid vehicles are still expensive now but once there is a factory established and batteries are available this will make it affordable for consumers,” said Atchaka.
According to BMW’s spokesman in Thailand, the company was not immediately in a position to make a comment on the investment, but would issue a statement this coming Monday.
Atchaka disclosed that the Thai government is working with BMW and is providing tax incentives so as to make Thailand the epicentre for plug-in hybrid vehicles.
Incidentally, Thailand is the region top export hub for BMW. The industry accounts for nearly 10% of the country’s gross domestic product (GDP).
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