Shanghai (ZXZC)- SAIC Motor-CP Co., Ltd., the joint venture between China's SAIC Motor and Thailand's Charoen Pokphand Group (“CP Group”), broke ground on a new industrial park in Chon Buri, Thailand to produce core auto parts related to new energy vehicles (NEVs) locally, according to a post on SAIC Motor’s WeChat account.

Spanning across a total area of 120,000 square meters, the new industrial park will have its overall construction works completed in 2025. Before that, the first-phase project will be put into use this year.

Photo credit: SAIC Motor

SAIC Motor said it has built a full value chain for the automotive industry overseas, including innovation and R&D centers, production bases, marketing centers, supply chain centers, and financial companies. Its products and services have entered more than 90 countries and regions worldwide.

In 2022, SAIC Motor's overseas sales reached 1.017 million vehicles, ranking first among China’s domestic car companies for seven consecutive years.

As early as 2013, SAIC Motor, in collaboration with CP Group, established SAIC Motor-CP Co., Ltd., to accelerate the internationalization of the MG brand, and launch a car development strategy based in Thailand and aimed at the ASEAN region.

As an important overseas production and sales base for SAIC Motor, SAIC Motor-CP's vehicle production and sales volumes both reached 32,000 units in 2022.

Recently, Thailand has issued a slew of policies to promote the development of the local NEV industry and actively build "regional large-scale electric vehicle production bases," resulting in a rapid growth in local NEV sales. In order to seize development opportunities and respond quickly to market demands, SAIC Motor-CP has initiated the construction of the aforesaid new energy industry park project, including standard plants, logistics warehouses, container yards, power stations, as well as facilities such as roads, lighting, drainage, and parking lots.