Japanese automobile technology firm FOMM is scouting for a local partner to set up an electric vehicle plant in Thailand, picturing the country as a hub for European exports.
The unit, estimated to entail an investment of $10m, would manufacture FOMM Compact EV, which is set to hit the stores in the first half of 2017.
While the facility would initially have an installed capacity of 5,000 units, it would be raised to 20,000 later after reaching a phase of 15,000.
FOMM CEO Hideo Tsurumaki told The Nation: "We expect to get a partner by October this year, while we are working on improving the prototype into the third edition, which is expected to come out late this year.
"Our aim is to have production of the FOMM Compact EV [under our technology] in Thailand, using mostly local parts. It is necessary to manufacture electric vehicles in Thailand in order to make the country a hub for such vehicles."
The auto-tech firm, which has designed and developed the Compact EV after carrying out a year-long research, has also sought for special tax sop for its units based in Thailand.
Assuring to assist local auto parts manufacturers adequately with technology transfer, the CEO said maximizing the potential of batteries remained the crux of the problem.
