Last updated on May 6th, 2021 at 07:45 am
GM’s Feb 17 announcement that it would cease its Thai market operations and sell the Rayong plants has shaken the automotive sector in several dimensions. From sales, production, exports and auto supply chains to auto loans, car insurance and the used-car market, the aftermath of the exit remains unresolved. And while Chevrolet Thailand, the local distribution arm of GM, has committed to provide maintenance and after-sale services, including genuine spare parts for all existing buyers, it cannot clarify the duration that Thai customers will continue receiving these services.
Great Wall previously announced a US$300-million investment plan in 2013 to set up a production plant for SUVs in Thailand. But the plan was put off in 2014 because of political turmoil and an economic downturn in Thailand. Surapong Paisitpatanapong, a spokesman for the automotive industry club of the Federation of Thai Industries, said the country’s automotive production will not be affected by GM’s exit, as the capacity will soon be replaced by Great Wall.
GM had two manufacturing lines at Rayong’s WHA Eastern Seaboard Industrial Estate — a vehicle assembly plant under GM Thailand with annual production capacity for 180,000 units and an engine plant under GM Powertrain Thailand with annual capacity for 120,000 units — for a combined investment of $1.4 billion. These assets were sold to Great Wall, with a plan to complete the deal by year-end 2020.
Have you ever had a little heart attack when your phone is out of your pocket and you cannot feel…
Justin Bieber's journey from a YouTube sensation to a global pop icon has been nothing short of remarkable. From his…
Looking forward to 2030, Malaysia faces a formidable obstacle in the shape of a developing water crisis that endangers millions…
From trending in the global charts in various segments be it TikTok stars, Instagram Influencers, or Hollywood Actors, Filipino artists…
When 2024 got underway, moviegoers everywhere anticipated a year full of ground-breaking narratives and state-of-the-art technologies that would completely change…
Zayn Malik's sincere search for a real connection was greeted with suspicion and charges of catfishing in a world where…
This website uses cookies.
Read More