Global automotive brand Cherry invests in Thailand

Cherry invests: Chery Automobile, a prominent player in global automotive industry, is set to make significant inros into Souast Asian market with its latest strategic move. company has announced plans to establish a state-of--art manufacturing facility in Thailand, as disclosed by Thai Board of Investment. 

With production slated to commence in 2025, Chery's facility is projected to churn out an impressive 50,000 electric and hybrid vehicles in its initial phase. By 2028, company aims to ramp up production to 80,000 units, demonstrating a firm commitment to meeting region's burgeoning demand for sustainable transportation solutions.

Chery's decision to invest in Thailand highlights country's growing significance as a hub for automotive manufacturing and innovation in region. Chery is poised to capitalise on emerging opportunities and strengn its foothold in Souast Asia by leveraging Thailand's strategic location, robust infrastructure, and skilled workforce.

Beyond immediate business implications, Chery's expansion holds promise for broer economic benefits. Establishing manufacturing facility is expected to generate employment opportunities, stimulate local industry growth, and foster technology transfer and knowledge exchange.

With Reuters Inputs