Kwaithong Motor will pump in $0.14m to set up an assembly unit for electric vehicles in Thailand with a view to catering to the domestic and Association of Southeast Asian Nations (ASEAN) markets.
Set to come up in Greater Bangkok, the new facility will manufacture vehicles, such as buses, vans, pickup trucks and passenger cars flaunting the Kwaithong brand, according to a report by Bangkok Post.
The company eyes selling electric buses to the Bangkok Mass Transit Authority and private mass-transit operators.
The core components such as, lithium titanium batteries will be imported from Hybrid Kinetic Group in Hong Kong, while the chassis will be sourced from German truck and bus maker MAN.
Kwaithong Motor chairman Zhang Kwaithong told Thailand4.com: "This light-weight quality battery allows the bus to run 50km on a single eight-minute charge. Moreover, the battery can be recharged up to 25,000 times which isgood for over 10 years of continuous usage.
"The 5,000 units of electric buses, produced in Thailand under the Kwaithong Thai brand will be made available for sale in Thailand and in other member countries of the Association of Southeast Asian Nations (ASEAN) including Myanmar, Laos, Cambodia, Vietnam and Malaysia."
Auto parts that would be made locally will have a share of 30-40% in the vehicles.
