Tesla Launches in Thailand, Vying to Compete with China EVs

Pacific Money | Economy | Southeast Asia

Tesla has launched gross sales in Thailand, providing its well-liked Model 3 and Model Y at costs geared toward competing with rivals like China’s BYD.

The firm staged a glitzy showcase of its plans Wednesday at Bangkok’s Siam Paragon mall. Online purchases have begun, with plans to ship automobiles to consumers within the first quarter of subsequent 12 months.

Southeast Asia’s market of greater than 600 million customers is more and more a spotlight for automakers seeking to increase gross sales, particularly of electrical automobiles.

Tesla mentioned the automobiles may have the newest satellite tv for pc navigation programs and different options reminiscent of over-the-air software program updates.

The firm is promoting its Model 3 Long Range and Performance fashions. The Model Y might be offered in three variations “to meet the specific demands of the EV lifestyle for every Thai driver,” the corporate mentioned.

Enjoying this text? Click right here to subscribe for full entry. Just $5 a month.

It mentioned costs will vary from 1.76 million Thai baht-2.5 million baht ($50,000-$71,000).

“The price is much lower than we expected. As far as the after-sale service concerns, I’m not worried too much about that as the EV car parts are not very complicated compared to combustible engine cars,” mentioned Wit Wongngamdee, who attended the launch together with his spouse and mentioned he was planning to order one of many fashions.

Apichat Prasitnarit, one other potential purchaser, mentioned he was shocked by the value.

“At the same time, other countries’ brands are launching their cars here, so we have choices and that’s great for consumers,” he mentioned.

Tesla mentioned it is going to open its first Service Center and Supercharger station in Thailand by March and plans to have a minimum of 10 arrange within the nation in 2023.

Apart from Tesla and BYD, Nissan Motor Co. has made Thailand a regional EV hub. Mercedes says it is because of announce gross sales of its EQS450+ quickly.

Nithi Thuamprathom, an auto professional for Auto Life Thailand, mentioned Tesla’s launch would doubtless give the EV market in Thailand a giant enhance, largely because of its aggressive pricing and model worth, which is a bonus over Chinese automakers like BYD.

“It’s unbelievable that Tesla announced the entry price (of its cheapest model) at 1.7 million Thai baht,” he mentioned. “That’s the price of Japanese cars with combustible engines or hybrid engines. This will create such a big change in the market.”

Still, Thailand stays primarily a land of gasoline, diesel and LPG-fueled automobiles, whilst a nationwide community of charging stations expands.

“The EV trend is growing in Thailand and there is an increase in the consumer acceptance. But we have to accept that this is just a beginning,” Nithi mentioned. “It’s in a pioneering stage.”