Beyond CKD in Malaysia; Kia now mulling new EV assembly plant in Thailand

Following its official entry into the Thailand market, Kia is now reportedly considering establishing its first EV assembly plant in the Kingdom, joining the growing list of manufacturers vying for a competitive edge in this region's most vibrant EV market. 

The Bangkok Post reports that parent company, Kia Corporation, has already agreed to the idea in principle.

Jun Oh Lee, president of Kia Sales (Thailand), recently stated, "We will continue to invest in EV manufacturing because we want to be a key player in EV technology development."

Lee did not elaborate on the specifics of the plant's location or investment value but mentioned that the parent company would make an announcement in due course.

However, separate reports from September last year suggest that the plant would have an annual production capacity of 250,000 units and was slated to come online in 2024.

Kia has big plans in Thailand. In January, it outlined its long-term business objectives as part of the global "Plan S-5" strategy for 2024-2028, which includes:

• Achieving a 5% market share in the passenger car market.

• Securing a 50% battery EV sales ratio.

• Ranking in the top five for brand awareness.

• Expanding the country’s dealer network fivefold.

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