By Devjyot Ghoshal and Pasit Kongkunakornkul
BANGKOK (Reuters) – Thailand’s Siam Motors partnered with Nissan Motors in 1962 with a factory that rolled out four cars a day, leading to a profitable, decades-long relationship with Japanese companies that transformed it from a car dealer to an automotive pioneer.
But the Thai family-owned group that has grown annual revenues to $7 billion on the back of that success is now looking at opportunities elsewhere.
Siam Motors is in talks with several Chinese automakers about potential partnerships, particularly for high-end electric vehicles, vice president Sebastien Dupuy said in an interview, referring to previously unreported discussions.
“EVs will be a nice pocket of growth,” he said. “There is a market growing for that, and we want to capture the growth.”
Siam Motors’ position reflects a rapid shift underway in Thailand, where Chinese investments worth $1.44 billion since 2020 – including by BYD and Great Wall Motor – have opened a new…
2023-07-09 18:02:25
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