BUSINESS

BOI hands Investment Promotion Certificate to BYD

Published on 09/09/2022

» Mr. Narucha Ruchuphan, Senior Executive Investment Advisor, Thailand Board of Investment (BOI), handed to Mr. Prawit Vijittanakul, Commercial Manager of BYD Auto (Thailand) Co., Ltd., as the company’s representative, the Investment Promotion Certificate for BYD’s 17.9 billion baht (ca. US$490 million) investment in a ‘new energy’ passenger vehicle plant in Rayong province, on 8 September 2022. The investment by the fully-owned unit of China’s BYD was approved by the BOI board in August under the incentive package to promote the manufacturing of electric vehicles (EV) and make Thailand the region’s EV supply chain hub.