BNR – Prime Minister of Thailand, Srettha Thavisin, announced they’ll secure investments totalling at least $5 billion from Tesla, Google, and Microsoft.
These investments are anticipated to invigorate Thailand’s economy.
Tesla Considers EV Plant
Thavisin disclosed that Tesla is contemplating establishing an electric vehicle (EV) manufacturing facility.
Meanwhile, the two technology behemoths, Google and Microsoft are inspecting the potential construction of data centres.
The Thai PM did not define how the $5 billion investment would be allocated. Experts suggest it would be either a collective commitment or individual efforts from each firm.
Currently, the three technology giants have not made any remarks or commented on any of the investment speculation.
Thavisin stated those updates during a press statement in Bangkok after he participated in New York’s UN General Assembly.
In the meeting, he sat with top officials from these companies to further discuss details.
Improving Economy of Thailand
This fresh influx of foreign investment is going to reinvigorate Thailand’s economy, which currently faces challenges due to weaker exports.
Economic growth for this year is forecasted at 2.8%, slightly lower than previous projections.
Thavisin also disclosed that he held discussions with Tesla’s CEO, Elon Musk, regarding the electric vehicle sector.
Thailand is recognised as Asia’s fourth-largest automobile assembly hub.
It has also been actively luring EV and battery manufacturers through incentives and extending tax cuts to domestic EV buyers.
The country is aiming to maintain its status as a prominent regional automotive centre.