Thailand Nabs $285m Changan EV Plant as Chinese Investment Booms

(Nikkei Asia) — China Changan Automobile Group Co. Ltd. will begin producing electric vehicles (EV) in Thailand, its first manufacturing base outside China as the state-owned automaker seeks to drive overseas sales.

Changan will make an initial investment of 9.8 billion baht ($285 million), the Thai Board of Investments said on Thursday. The automaker will invest a total of 4 billion yuan ($581 million) in Thailand over the next few years, Changan Chairman Zhu Huarong announced at the Shanghai Auto Show on Tuesday.