Invest 500 million baht! SAIC Zhengda Thailand Power Battery Factory Put into Production

According to Xinhua News Agency, on October 31st, the first deeply localized car battery in Thailand was taken offline at SAIC Zhengda Co., Ltd. (abbreviated as SAIC Zhengda)'s brand new battery factory, which means that the company's electric vehicle battery factory built in Thailand is put into operation.

It is reported that SAIC Zhengda Electric Vehicle Battery Factory covers an area of 12 hectares, with an investment of 500 million Thai baht (approximately 13.9 million US dollars), and is the first battery factory of SAIC Group (600104) and MG Thailand in the ASEAN region.

According to data, SAIC Zhengda New Energy Industrial Park laid the foundation and started construction on April 30th this year. As early as 2013, SAIC Group, in collaboration with Thai multinational company Chia Tai Group, initiated the establishment of SAIC Chia Tai. Taking the opportunity to accelerate the internationalization process of MG brand, SAIC Chia Tai launched a car development strategy based on Thailand and oriented towards ASEAN. As an important overseas production and sales base for SAIC, in 2022, SAIC Zhengda's total vehicle production and sales reached 32000 vehicles, with a cumulative sales of 14700 vehicles in the first three quarters of this year.