Japan’s Isuzu to invest $6.6bn in Thailand's EV sector

Japanese car producer Isuzu will invest around 240bn Baht ($6.6bn) by 2030 in Thailand's electric vehicle (EV) sector, a Thai government spokesperson said today.

Isuzu plans to produce its D-MAX electric pickup truck in the country for export in 2025, Chai Wacharonke said. Isuzu had earlier this week said it will launch the model in European countries such as Norway in 2025. The model will be rolled out to the UK, Australia, Thailand, and other countries "based on market needs and the maturity of EV charging infrastructure", the firm said.

More details about Isuzu's investment plans were unavailable.

Thai prime minister Srettha Thavisin said last month that the country aims to attract Bt1 trillion as it seeks to become a future mobility hub. Thailand will promote its EV industry and look into other technologies such as "hydrogen engines", Thavisin said.

Thailand's National Electric Vehicle Policy Board last month approved a plan to offer commercial electric truck and bus purchase tax incentives. The plan also aims to provide cash grants for EV battery cell manufacturers.

Thailand has a target for zero emissions vehicles to reach 30pc of the country's total automobile production by 2030 with its 30@30 policy. Battery EV registrations almost quintupled from a year earlier to about 100,000 units in 2023.

By Joseph Ho