Beijing (ZXZC)- On June 5, Chinese automaker Changan Automobile, in collaboration with the Thailand Board of Investment (BOI), successfully hosted a "Sourcing Day" event in Bangkok, attracting over 300 Thai suppliers.

Photo credit: Changan Automobile

At the event, Changan Automobile signed letters of intent with more than 70 suppliers, with over 80% being majority-owned by Thai entities. This event underscores the strength and potential of Thailand's local supply chain.

This event demonstrates Changan's commitment to localizing its development in the Thai market. The establishment of manufacturing bases is a key aspect of Changan Auto's global strategy, and integrating the supply chain is crucial for rooting the company in Thailand, fostering development, and serving customers.

Photo credit: Changan Automobile

Since entering the Thai market in November last year, Changan Automobile has made steady progress in product deployment, base construction, and team building. The company has earned widespread recognition and continuous attention for its outstanding product quality and service. Notably, the DEEPAL S07 topped the sales charts for new energy vehicles in Thailand in April, said the company. The construction of the Rayong factory is progressing smoothly, with operations expected to commence in the first quarter of 2025, with an initial production capacity of 100,000 vehicles, expanding to 200,000 vehicles later. By 2024, the company plans to employ over 600 local staff, achieve a localization rate of over 80%, and reach 90% by 2026.

Guided by the "Vast Ocean" plan, Changan Thailand aims to deepen its localization strategy by introducing at least 15 new models by 2030.