Published on July 26th, 2016 | by Daniel Sherman Fernandez0
BMW To Build Hybrid Battery Factory In Thailand
Malaysia has again lost out on a huge automotive investment yet again to its northern neighbour, Thailand. The BMW Group is considering building a factory to produce batteries for plug-in hybrid vehicles in Thailand. Construction is slated to start in the middle of next year with an investment of 2 billion baht (USD57 million). A spokesman for BMW in Thailand said the company was not immediately able to comment on the investment but would issue a statement on Monday.
The Thai government was working with BMW to offer tax incentives to make the country a center for plug-in hybrid vehicles. Thailand is a regional production and export hub for the world’s top carmakers, and the sector accounts for around 10% of the country’s gross domestic product.