Saudi Arabian investment in electric vehicle production in Thailand sought

[snoop1130]

 

The Thai government has been courting Saudi Arabia for investment in the production of electric vehicles (EVs) in Thailand, to achieve its goal of becoming the EV production hub in the ASEAN region.

 

According to Narit Therdsteerasukdi, secretary-general of the Board of Investment (BoI) and secretary of the National Electric Vehicles Policy Board, Saudi Arabia’s Public Investment Fund (PIF) has entered into a joint venture with Taiwan’s Foxconn, to develop and produce “Ceer” brand electric vehicles in the desert kingdom, with German car manufacturer BMW providing technology and innovations.

 

He said that the PIF has also bought a 60% stake in US-based Lucid Motor, to produce “Lucid” brand EVs in Saudi Arabia. The production plant, located in the King Abdullah Economic City, was officially opened in September.

 

Full story: Thai PBS 2023-11-07

 

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[sscc]

 

Saudi actively invest in Asia nowadays doing major projects in China, South Korea, Indonesia.  They will do joint venture projects in HK  too. 

it appears Thailand might hopefully get minor share. 

 

. 

[hotchilli]

14 hours ago, snoop1130 said:

The Thai government has been courting Saudi Arabia for investment in the production of electric vehicles (EVs) in Thailand, to achieve its goal of becoming the EV production hub in the ASEAN region.

Help bail us out please...

Why doesn't the Thai government invest in EV's...?

It's virtually bankrupt.

 

[Burma Bill]

21 hours ago, snoop1130 said:

courting Saudi Arabia for investment in the production of electric vehicles (EVs) in Thailand

Well I never:

 

[billd766]

6 hours ago, hotchilli said:

Help bail us out please...

Why doesn't the Thai government invest in EV's...?

It's virtually bankrupt.

 

And will the Thai government demand that the company has 51% Thai ownership and Thai management? Plus demanding 4 Thai workers for every one farang worker?