Siam Motors, a Thai family-owned group that has enjoyed a successful partnership with Japanese automakers since 1962, is now looking to explore opportunities with Chinese automakers, particularly in the high-end electric vehicle (EV) segment. The Vice President of Siam Motors, Sebastien Dupuy, revealed that the company is in talks with several Chinese automakers for potential partnerships, recognizing the growing market for EVs and the need to capture this growth.
This shift in strategy reflects the changing landscape in Thailand, where Chinese investments in the automotive industry have opened up a new front in a market historically dominated by Japanese automakers. The go-slow approach of Japanese automakers towards EVs, coupled with Chinese investments and the entry of Chinese EV manufacturers like BYD and Great Wall Motor, has posed a challenge for Japanese companies in the Thai market.
The influx of Chinese investments and the presence of Chinese EV makers in Thailand are reshaping the country’s auto industry. Chinese EV manufacturers are bringing in their suppliers, and local Thai firms, including those with longstanding ties to Japanese companies like Siam Motors, are seeking new partnerships. China has emerged as Thailand’s top foreign investor, surpassing Japan, with significant investments in EV production facilities.
Thailand’s transition in the automotive industry serves as a test case for other economies, as Chinese automakers expand their exports and establish overseas production hubs to cater to the growing demand for electric cars.