Japanese chemicals maker Kuraray recently begins production of high-performance resins at a new plant in eastern Thailand. (Photo: nikkei.com) Jakarta (VNA) – According to Nikkei Asia, a news service in Japan, Indonesia and Thailand have become two of the hottest Asian destinations for investment in parts and materials for electric vehicles (EV), as Japanese, Chinese and the Republic of Korea (RoK) players race to get in at the start of EV production in the region.
In April, Japanese plastics maker Kuraray opened its first plant in Thailand. Speaking at the opening ceremony, President Hitoshi said automakers want to have a supply chain.
The new plant is one of a growing number of EV-related investments in Thailand, which is Southeast Asia's biggest auto producer but still new territory for electric models. RoK's Hyundai Motor started EV production here just last year, and China's BYD has plans to begin assembling vehicles in Thailand in 2024.
About 70 billion JPY (520 million USD) was invested in the Kuraray plant, a joint venture with Thai petrochemical company PTT Global Chemical and Japanese trading house Sumitomo Corp.
Kuraray's high-performance resin Genestar is being produced there. It has a higher heat resistance than standard resins and is used for high-voltage parts around vehicle batteries. Genestar is produced in Japan, but the new Thai plant will double annual production to 26,000 tonnes.
In March, Japanese electronics parts maker Murata Manufacturing said that it completed a factory for multilayer ceramic capacitors in Lamphun province in northern Thailand.
Multilayer ceramic capacitors stabilise the flow of electricity inside devices. As many as 10,000 can be needed in an EV. Murata, the world leader in these capacitors, plans to increase its supply capacity in Southeast Asia.
Thailand introduced incentives in 2022 to promote the shift to EVs, and Chinese and Japanese automakers responded.
BYD plans to open a plant next year with an annual output of 150,000 vehicles. Great Wall Motor, which already has entered the Thai market, and SAIC Motor-owned MG Motor also plan to start production in the country.
Japanese parts makers see BYD and other Chinese automakers as potential customers. Toyota Motor and Honda Motor plan to make EVs in Thailand but likely will start at a small scale./.
