Yadea Technology (Thailand), a subsidiary of Chinese electric two-wheeler producer Yadea Global, is expanding its investment in Thailand as it aims to become a hub of electric motorcycle production in Southeast Asia.
The move came after the company was granted investment incentives from the Board of Investment.
The board declined to unveil the investment budget of Yadea Technology (Thailand).
“We want Thailand to be an electric motorcycle hub in Southeast Asia, with annual production capacity of 500,000 units,” said chief executive Jack Yang.
The company aims to increase capacity to 600,000 units between 2025 and 2027.
“We produce electric motorcycles from a smart assembly plant, which is like our ‘super factory’ in China,” said Mr Yang, adding the facilities are equipped with technology to enhance production efficiency.
Yadea’s factory, which is located in Samut Prakan’s Bang Sao Thong district, employs more than 500 workers, mostly Thais.
The company believes its electric motorcycle business has good prospects in Thailand thanks to an adequate production facility and a network of motorcycle dealers in 70 areas countrywide, he said.
Last year, Yadea opened three flagship stores here, marking the company’s entry into the Thai electric two-wheeler market since its establishment in 2001 in China.
The three stores, two located in Pathum Thani’s commercial area and the other located in a shopping area in Chon Buri, play an important role in introducing the brand to prospective customers.