Board of Investment plans meetings with 10 Chinese battery producers
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Board of Investment plans meetings with 10 Chinese battery producers

The Board of Investment (BoI) is preparing to meet with leading electric vehicle battery cell manufacturers in China to encourage them to invest in Thailand in order to support the country's fast-growing EV industry.

Authorities are promoting battery manufacturing after launching EV incentive packages to promote the production and consumption of electric vehicles, part of an ambitious plan to make Thailand a regional hub for the EV industry.

"We will organise a roadshow in Fujian and Guangdong between April 7-10 to provide details of a battery cell investment opportunity," said Narit Therdsteerasukdi, secretary-general of the BoI.

Officials plan to meet 10 of the largest battery cell manufacturers in China, including Contemporary Amperex Technology and China Aviation Lithium Battery, to discuss investment incentive packages.

The BoI will also meet EV manufacturer XPeng Motor to encourage the company to invest in Thailand.

Xpeng Motor is participating in the 45th Bangkok International Motor Show to showcase its electric mobility technology. The 12-day event will end on April 7.

Mr Narit believes Chinese battery cell manufacturers will be interested in expanding their businesses into Thailand due to the growth of the EV industry and the latest incentive package the government has granted to battery producers.

In February, the National Electric Vehicle Policy Committee resolved to endorse cash grants for EV battery cell manufacturers.

The committee plans to promote the local production of battery cells for EVs and energy storage systems, providing financial support via the Competitiveness Enhancement Fund.

To qualify for investment promotion under this scheme, companies must meet certain criteria, including being a leading and well-recognised battery manufacturer providing batteries to EV producers and having a clear plan to produce battery cells for batteries used in EVs.

The BoI has so far granted investment incentives to 103 projects, including EV development and its supply chain. The projects have a total value of 77 billion baht.

The BoI held a roadshow last year in Guangzhou, Shanghai and Shenzhen to encourage EV manufacturers to build production facilities in Thailand.

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