Tesla’s entry into Thailand is perfectly timed. The south-east Asian country is on the cusp of becoming a new source of growth for both the US electric carmaker and its global peers. Toyota’s decades-long dominance over the local vehicle market is nearing an end.
Tesla launched Model 3 and Model Y in Thailand at an unexpectedly low starting price of Bt1.75mn ($50,300) this week. Chinese rival BYD has already started selling vehicles in the country and is building a production plant there, its first outside China.
Both moves come ahead of the peak car shopping season at the end of the year. High fuel prices should give electric car sales a fresh boost this year.
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