China Auto Daily丨Great Wall Motors to Invest Further in Thai Market

October NEV Wholesale Sales in China Reach 1,400,000 Units

On November 4, the China Passenger Car Association (CPCA) released initial estimates for new energy vehicle (NEV) wholesale sales for October 2024. The figures indicate a robust market performance with approximately 1.4 million units sold, reflecting a 58% year-on-year growth and a 14% month-on-month increase. Furthermore, the penetration rate of NEVs in China market continued to exceed 50%.

Great Wall Motors’ Continued Investment in Thailand

Great Wall Motors International Market Chairman, Parker Qi, announced that the company has already invested over 12 billion Thai Baht (approximately ¥2.6 billion) in Thailand. Over the next three years, Great Wall Motors plans to further increase its investment, bringing the total to more than 23 billion Thai Baht (approximately ¥4.9 billion). This investment will be directed towards constructing new factories, developing new vehicle models, and producing batteries, all aimed at catering to the growing Thai market. Additionally, Great Wall Motors intends to establish Thailand as a hub for the production and export of right-hand drive vehicles to global markets.

Denza Expands Its Footprint in the Asia-Pacific Region

On November 1, Denza (DENZA) announced its entry into the Thai market, making Thailand the fourth market in the Asia-Pacific region following its presence in Hong Kong, Cambodia, and Singapore. Denza launched the Denza D9 Premium-AWD version in Thailand, marking its official market entry. Concurrently, Denza announced plans to open five brand showrooms in key regions in Thai by the end of the year, with a goal to establish ten sales outlets in total.

Tesla’s Strong Performance in China for October

Tesla's Shanghai Gigafactory reported deliveries of 68,280 vehicles in October 2024, of which over 40,000 were sold within China, marking a 41% year-on-year increase. Notably, the Model Y accounted for a significant portion of sales in China, with over 36,000 units sold in October. Cumulatively, Tesla sold over 373,000 units for the year, reinforcing its strong market presence in China.

Tencent Deepens Strategic Partnership with Bosch China

Recently, Tencent announced the signing of a new strategic cooperation memorandum with Bosch China. The partnership aims to deepen collaboration across several domains, including public cloud services, dedicated autonomous driving cloud, autonomous driving maps, smart cockpits, large model bases, and intelligent solutions for international markets. By leveraging their respective strengths, Tencent and Bosch aim to advance the development of intelligent and connected vehicle technologies, spearheading innovations in the automotive industry.