On Wednesday (11 October), Thai Prime Minister Srettha Thavisin announced that a joint venture between Malaysian automaker Proton and Chinese carmaker Geely intends to establish an electric vehicle (EV) factory in Thailand.
Srettha made this announcement during a joint press conference with Malaysian Prime Minister Anwar Ibrahim as part of his official visit to Kuala Lumpur, according to Reuters.
Srettha stated, “They look to set up an EV factory in Thailand, which later today, we will have a meeting and hopefully, a clear next step can be established and move forward quickly”. The Thai premier did not disclose any additional details.
Proton is primarily owned by DRB-Hicom, while Geely holds a 49.9% stake. Earlier in the day, DRB-Hicom had signed an agreement with Geely to collaborate on the development of an automotive hub in Malaysia, with the Chinese company expected to invest USD10 billion (~RM47.1 billion) in the project.
It’s unknown why Proton and Geely decided to set up an EV factory in Thailand instead of just setting up at the automotive hub, despite positioning it as an international hub for new energy vehicles.
