Thailand's new PM holds talks with Tesla chief Musk

BANGKOK — Thailand's new Prime Minister Srettha Thavisin said on Thursday (Sept 21) he held talks with Tesla chief Elon Musk during a visit to New York and they discussed the electric vehicle (EV) industry.

Thailand, Asia's fourth-largest automobile assembly hub, has been offering incentives to EV and battery makers, and tax cuts to local EV buyers, to remain a regional auto centre.

Srettha, who is in New York to attend the United Nations General Assembly, said he spoke with Musk about EV manufacturer Tesla and his rocket and satellite company SpaceX, including its internet venture Starlink.

"We look forward to further discussions," Srettha posted on messaging platform X, formerly known as Twitter.

In a statement, the Thai government said that Srettha told Musk in a video conference that his administration was ready to support investments within the existing incentive framework.

"Tesla praised Thai human capital, which was suitable for investment," the statement said.

Automakers with plants in Thailand include Toyota and Honda. The country produces about 1.5 million to two million vehicles annually, of which about half are exported.

EVs have been steadily gaining traction in Southeast Asia, a market dominated by Japanese carmakers.

EVs accounted for 6.4 per cent of all passenger car sales in the region in the second quarter, up from 3.8 per cent in the first quarter, Counterpoint Research data show.

Around half of all regional EV sales are from Thailand, followed by Vietnam and Indonesia, with Chinese carmakers like BYD leading by a wide margin.

Tesla, also popular in Thailand, launched models in the growing market last year.

Southeast Asia accounted for less than one per cent of Tesla's global sales, according to Counterpoint.

ALSO READ: Malaysian PM Anwar discusses Tesla investment, Starlink with Musk

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.