State-owned carmaker Changan joins likes of BYD and Great Wall Motors in Southeast Asia foray, to build factory in Thailand
- Thailand will be a focus for Changan’s international expansion, carmaker says
- Chinese carmakers’ rush to build plants abroad reflects concerns about escalating competition at home: analyst
The company, which is based in China’s southwestern Chongqing province, will spend 1.83 billion yuan (US$251 million) to set up a plant with an annual capacity of 100,000 units, which will be sold in Thailand, Australia, New Zealand, the United Kingdom and South Africa, it said in a statement on Thursday.
“Thailand will be a focus for Changan’s international expansion,” the statement said. “With a foothold in Thailand, the company makes a leap forwards in the international market.”
Changan said it would increase capacity at the plant to 200,000 units, but did not say when it will be operational. It also has not announced a location for the facility.
The new factory in Thailand will be Changan’s first overseas facility, and aligns with the carmaker’s global ambitions. In April, Changan said it would invest a total of US$10 billion abroad by 2030, with the aim of selling 1.2 million vehicles a year outside China.
