NEXT GENERATION AUTOMOTIVE: WHAT DRIVES THAILAND
The ASEAN region’s second biggest economy has the largest vehicle assembling capacity as well, and low tariffs have prompted a surge in exports. Thailand ships vehicles to 130 countries worldwide. Locally, the Thai Auto Parts Manufacturers Association boasts of 400+ members producing an array of components. But additionally, many of the 3,000 parts used in assembling your average vehicle are also sourced from abroad, which is an opportunity for even more foreign suppliers to do business in Thailand.
"Practically all of the world’s major automakers and auto parts manufacturers have a presence in Thailand, and it’s no wonder: the strategic location and ease of doing business makes it a prime base location."
Not only are manufacturing and assembly key components of Thailand’s automotive space, foreign car companies are investing in technical and R&D facilities as well. It’s an innovative industry too: in 2009, Toyota started production of hybrid vehicles in Thailand in a natural gas-fuelled factory, the first of its kind in ASEAN.