(Yicai Global) May 1 -- Chinese car manufacturer SAIC Motor expanded its current portfolio in Thailand by breaking ground on a new energy industrial park yesterday as part of its long-term development plan in the Southeast Asian country.

The new energy park in Chon Buri province's Eastern Economic Corridor Special Zone, spanning 120,000 square meters, features a power battery plant, a production line for EV components, a container yard, and a logistics warehouse to enhance transportation efficiency.

The industrial park is expected to attract core component suppliers and further bolster the supply chain capability upon completion.

Zhao Feng, president of SAIC Motor-CP, a joint venture between SAIC Motor and Charoen Pokphand Group, said that the new park will provide crucial support for Thailand's transformation towards a "green and low-carbon" society.

SAIC's MG brand, which entered the Thai market in 2013, became one of the most popular brands among Thai customers, with over 180,000 users in the country, Zhao said.

Thailand aims to become an EV production hub, with EVs accounting for 30 percent of its total vehicle output by 2030.

As a result of government stimulus and subsidy policies, the preference for electric cars has significantly strengthened among both electric vehicle makers and consumers in recent years.

Last month, another Chinese EV giant BYD broke ground on its Thailand factory, slated to commence production in 2024, with an annual capacity of 150,000 new energy vehicles.

According to data released on April 27, Thailand's new EV registrations have increased steadily in the first quarter of this year. In March, new battery electric vehicle registrations reached a record high of 8,522 units.

During a Bangkok motor show, which ended earlier this month, SAIC received nearly 4,000 orders, ranking third among all participating automakers.

Editor: Dou Shicong