Second production facility: Aiways Thailand plans its own factory
December 04, 2022 (PRLEAP.COM) Business NewsShanghai/Bangkok, December 05, 2022 - With an investment of more than 40 million euros and the signing of a memorandum of understanding with Bio Hub Asia, Aiways cooperation partner Phoenix EV is laying the groundwork for an assembly plant in Thailand that will produce the first locally produced units of the Aiways U5 SUV and Aiways U6 SUV-Coupé as early as 2023.
Bio Hub Asia in Chachoengsao Province is the first vertically integrated "Bio-Circular-Green-Economy" industrial area in Thailand and Southeast Asia. The project aims to optimize the use of resources, at low cost and without pollution. The planning assumes the establishment of 54 sustainable factories in diverse sectors: From chemicals to energy to medicine and health, to a research and development center for sustainable innovation.
With over 400 hectares of floor space for the vehicle assembly plant and battery assembly plant, a significant portion of Bio Hub Asia is reserved for Aiways and Phoenix EV. Completion of the first phase of construction is planned as early as 2023, allowing the first vehicle to be assembled. Phoenix EV's CEO, Sakonsak Sirachaiyasit, plans a pilot series of 600 vehicles next year.
The benefits of local production in the Bio Hub promoted by the Board of Investment of Thailand (BOI) and Eastern Economic Corridor (EEC) are multi-faceted. In addition to direct fiscal incentives, the exemption from import duties in particular ensures market-driven pricing. With its assembly plant in Chachoengsao, Aiways is the first Chinese manufacturer in a sustainable environment, accelerating the transformation of the "Detroit of Asia" - Thailand is the largest automotive hub in Southeast Asia and the tenth largest vehicle manufacturing country in the world - toward a lower carbon footprint.
"The idea behind Bio Hub Asia fits perfectly with our company philosophy: we want to create benefits. For our customers, but also for the community and society, by solving the challenges of our time in an intelligent and sustainable way," says Dr. Alexander Klose, Executive Vice President Overseas Operations at Aiways, enthusiastic about the concept of the new site in Thailand. "The benefits of the Bio Hub also extend far beyond the production of our vehicles; for example, we are also working here with a software company that develops charging solutions and grid stabilization for our infrastructure in Thailand, and we are ensuring fast and efficient development of market-specific product changes with a research team based here."
For Aiways, this move to Thailand also marks another milestone in the company's history. As part of the "signing ceremony", the first drivable prototypes of the right-hand drive version of the Aiways U5 SUV were shown, which will also roll off the production line at the new plant in the future. The RHD version will not only be limited to the Thai market; the Aiways U5 SUV and and a little later also the Aiways U6 SUV-Coupé will also be rolled out to other left-driving markets from 2023 as announced.
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