BoI steps up efforts to woo Tesla

The Board of Investment (BoI) is stepping up efforts to encourage newly established Tesla Thailand to invest in the electric vehicle (EV) business, part of efforts to grow the local EV industry.

Narit Therdsteerasukdi, secretary-general of the BoI, said Tesla may be interested in an EV investment project because the government has announced a clear policy to promote the new-generation cars.

He was speaking at a ceremony that officially launched two models of Tesla cars -- the Model 3, priced between 1.75 and 2.3 million baht, and the Model Y, with prices ranging from 1.95 to 2.5 million baht.

"We believe it is a good sign that Tesla launched its cars in Thailand as this can boost the domestic EV market," he said, adding that Thailand is the second country in Asean after Singapore where Tesla had launched its cars.

This also shows the company is interested in the EV business in Thailand, said Mr Narit.

The Texas-based EV maker plans to import cars from its assembly plant in China to Thailand. The company has no plan to make an EV investment here.

According to the BoI, Tesla is not participating in the government's EV incentive package, which grants excise tax cuts and subsidies to promote EV production and consumption in 2022 and 2023.

Participating companies are committed to starting to produce EVs in Thailand from 2024.

The BoI also learned Tesla is in talks with the Indonesian government on the possibility of investing there. Indonesia has abundant supplies of nickel, a key component in lithium batteries.

"We have to work hard in order to encourage Tesla to invest in Thailand," said Mr Narit.

Tesla on Wednesday declined to give further information to the media.