Thailand's automotive dominance in Southeast Asia continues to gain momentum as more manufacturing and component companies move to the region in response to increasing demands.
Bangkok, Thailand (PRWEB) August 16, 2016
Thailand’s Board of Investment (BOI) is seeing more interest from global automotive manufacturers and automotive supply companies, fueling a growth pattern in the Kingdom’s auto manufacturing industry.
According to the International Organization of Motor Vehicle Manufacturers, Thailand is now the twelfth largest automotive producer in the world and the sixth largest commercial vehicle producer in the world. Thailand’s automotive dominance in Southeast Asia continues to gain momentum as more manufacturing and component companies move to the region in response to increasing demands.
Just recently, BMW announced it is considering building a $57 million plug-in hybrid vehicle battery factory in Thailand, which comes on the back of the automotive giant’s plans for a new national parts distribution center in Bang-Na, which is located in the outskirts of Bangkok.
Thailand now produces over 1.5 million commercial and personal vehicles per year and has become home to the operations of global automotive giants such as Ford, Isuzu, Mazda, Mitsubishi, BMW, General Motors, Honda, Mercedes-Benz, Nissan, Tata, Toyota, and Volvo.
With exports driving growth, Thailand’s advanced manufacturing and automotive operations continue to grow. It is currently the largest automotive producer in Southeast Asia.
Thailand has over 2,400 automotive component manufacturers operating in the country, with 709 of them being OEMs (original equipment manufacturers). This vast network of car-production supply chain companies, is composed of small and large operations and local and foreign companies.
As demand throughout Asia continues to increase, Thailand’s position in the industry will strengthen. Industry analysts predict that not only will Thailand secure its automotive, big bike, and industrial equipment capabilities, but that the country is poised to excel in robotics and become the green automotive production base of Asia.
BMW's Hybrid Battery Announcement:
The Thailand Board of Investment (BOI) is the investment promotion agency for Thailand that facilitates foreign direct investment. BOI’s services are free of charge and customized to help businesses succeed in Thailand. For more information, please visit http://www.boi.go.th and http://www.thinkasiainvestthailand.com