Back to mobile site

Thailand's new PM holds talks with Tesla chief Musk

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 8/20/2026

1. TGT
2. EL
3. BILL
4. ADI
5. MRK
6. MRNA
7. TJX
8. DE
9. LOW
10. COTY

September 21, 2023 11:29 AM EDT

FILE PHOTO: Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of Twitter, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 202

BANGKOK (Reuters) -Thailand's new Prime Minister Srettha Thavisin said on Thursday he held talks with Tesla chief Elon Musk during a visit to New York and they discussed the electric vehicle industry.

Thailand, Asia's fourth-largest automobile assembly hub, has been offering incentives to EV and battery makers, and tax cuts to local EV buyers, to remain a regional auto centre.

Srettha, who is in New York to attend the United Nations General Assembly, said he spoke with Musk about EV manufacturer Tesla and his rocket and satellite company SpaceX, including its internet venture Starlink.

"We look forward to further discussions," Srettha posted on messaging platform X, formerly known as Twitter.

In a statement, the Thai government said that Srettha told Musk in a video conference that his administration was ready to support investments within the existing incentive framework.

"Tesla praised Thai human capital, which was suitable for investment," the statement said.

Automakers with plants in Thailand include Toyota and Honda. The country produces about 1.5 million to 2 million vehicles annually, of which about half are exported.

EVs have been steadily gaining traction in Southeast Asia, a market dominated by Japanese carmakers.

EVs accounted for 6.4% of all passenger car sales in the region in the second quarter, up from 3.8% in the first quarter, Counterpoint Research data show.

Around half of all regional EV sales are from Thailand, followed by Vietnam and Indonesia, with Chinese carmakers like BYD leading by a wide margin.

Tesla, also popular in Thailand, launched models in the growing market last year.

Southeast Asia accounted for less than 1% of Tesla's global sales, according to Counterpoint.

(Reporting by Chayut Setboonsarng and Devjyot Ghoshal; Editing by Jane Merriman, Richard Chang, Kirsten Donovan)


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Reuters

Related Entities

Merriman Curhan Ford, Twitter, Tesla