while the government fully supports the electric vehicle industry Measures were announced to support the use of electric vehicles last year. by providing tax benefits and subsidies to encourage entrepreneurs from all over the world to set up factories in Thailand and also helping to reduce the price of electric vehicles in the country
Data from the Office of the Board of Investment (BOI) found that Currently, 26 companies have applied for investment promotion for the production of electric vehicles, totaling 860,195 units, representing a total investment value of 86,855 million baht. (excluding cost of land and working capital)
There are 11 brands that have been produced and distributed commercially such as Nissan, Honda, Toyota, Great Wall Motors, MG, Mercedes-Benz, BMW.
and there are entrepreneurs whoSubmit investment promotion application for EV parts manufacturing, 14 companies, 16 projects, with a total investment of 5,120 million baht. As for the battery, which is the heart of electric vehicles, there isSubmitted an application for the production of EV batteries by 13 companies, 20 projects with a total investment of 9,264 million baht and the production of high capacity batteries for another 8 companies, 8 projects with a total investment of 9,309 million baht.
And the latest news has come out that CATL (Contemporary Amperex Technology Co, Ltd), the world’s No. 1 EV battery manufacturer from China, is also interested in setting up a battery factory in Thailand. which has already been discussed with the BOI
also reported that Many other EV entrepreneurs are interested in buying space and setting up an electric vehicle assembly plant in Thailand, which covers more than 2,500, including printed circuit board (PCB) manufacturers from China, who also intend to move their production base to Thailand. to diversify risks of geopolitical conflict
Of course, when these operators choose to set up a factory in Thailand it becomes a golden opportunity for the industrial estate group byThe Krungsri Research team estimates that the business of the industrial estate during 2023-2025 is likely to continue to recover. of investment in manufacturing industry which expands in line with economic conditions
Helping to support the demand to buy or rent land. Land sales and rents are expected to return to growing 18.0-20.0% per annum at 2,200 Ra, 2,700 Ra and 3,000 Ra respectively.
Boosted by government investment in infrastructure. especially in the EEC area which tends to accelerate during the years 2024-2025 according to the second phase development plan (2023-2027), while investor confidence recovers after the COVID-19 situation recedes.
Foreign entrepreneurs are more likely to move or expand their production bases to Thailand. Partly to diversify trade and political tensions between the US and China, while the government has continued investment stimulus measures.
sideYuanta Securities Assess that AMATA’s normalized profit in 2023 will grow 60.7% YoY from the industrial estate business. excellent growth supported by the relocation of production centers out of China The demand for land in Thailand and Vietnam remains strong as foreign investors, especially Chinese, rush to invest in establishing production centers. especially in electronics and electric vehicles, in assembly and spare parts, as well as benefiting from the government’s investment promotion measures.
Dao Securities (Thailand) has raised its 2023 norm profit forecast for WHA by +4% to 4 billion baht, +9% YoY and 2024 by +7% to 4.8 billion baht, +20% YoY. After increasing land sales to 2 thousand per year, the research department estimates that the company has an opportunity to adjust the target in the middle of the year. of sales which have been high since the beginning of the year which reflects that investors are not worried about political problems
Including the possibility of the company acquiring major electric vehicle customers. because there is a large area in the estate Currently supporting sales in the EEC area. Make the transfer amount in 2023-2024 increase to 1.5 and 1.8 thousand respectively.
DBS Vickers Securities (Thailand) expects ROJNA to make sales in the first quarter of 2023, the most in the group of 442. Compared to AMATA and WHA on 310 Ra and 438 Ra, respectively, which accounted for 57% of sales in the first quarter of the full year target of 782, there is an opportunity to revise sales forecasts further.
