pacific money | Economy | Southeast Asia
The Southeast Asian market of more than 600 million consumers is increasingly a focus for automakers looking to expand sales, especially of electric vehicles.
Tesla has launched sales in Thailand, offering its popular Model 3 and Model Y at prices aimed at competing with rivals such as China’s BYD.
The company held a glitzy display of its plans on Wednesday at Bangkok’s Siam Paragon shopping mall. Online shopping has begun, with plans to deliver vehicles to buyers in the first quarter of next year.
The Southeast Asian market of more than 600 million consumers is increasingly a focus for automakers looking to expand sales, especially of electric vehicles.
Tesla said the vehicles will have the latest satellite navigation systems and other features, such as over-the-air software updates.
The company is selling its Model 3 Long Range and Performance models. The Model Y will be sold in three versions “to meet the specific EV lifestyle demands for every Thai driver,” the company said.
He said prices will range from 1.76 million Thai baht to 2.5 million baht ($50,000-$71,000).
“The price is much lower than we expected. As for the after-sales service, I don’t worry too much as EV parts are not very complicated compared to fuel-powered vehicles,” said Wit Wongngamdee, who attended the launch with his wife and said he was planning to order one of the models.
Apichat Prasitnarit, another potential buyer, said he was surprised by the price.
“At the same time, brands from other countries are launching their cars here, so we have options and that’s great for consumers,” he said.
Tesla said it will open its first service center and supercharger station in Thailand in March and plans to have at least 10 established in the country by 2023.
In addition to Tesla and BYD, Nissan Motor Co. has turned Thailand into a regional hub for electric vehicles. Mercedes says it will announce sales of its EQS450+ soon.
Nithi Thuamprathom, an auto expert at Auto Life Thailand, said Tesla’s launch is likely to give the electric vehicle market in Thailand a big boost, largely thanks to its competitive price and brand value, which is an advantage over Chinese automakers like BYD.
“It is incredible that Tesla has announced the entry price (of its cheapest model) at 1.7 million Thai baht,” he said. “That is the price of Japanese cars with fuel engines or hybrid engines. This will create a big change in the market.”
Still, Thailand remains primarily a land of gasoline, diesel and LPG vehicles, even as a nationwide network of charging stations expands.
“The EV trend is growing in Thailand and there is an increase in consumer acceptance. But we have to accept that this is just a start,” Nithi said. “It is in a pioneering stage.”