On Wednesday, Tesla marked its first step in joining Thailand’s auto market competition by launching two electric vehicles (EV).
The prices of the two models range from around $48,428.22 to $71,217.97.
This move came as the nation offered subsidies and tax cuts to push for production and adoption.
According to the government, they want 30.00% of the vehicles in the country to become electric by 2030.
Orders for the products were set to be delivered next year as the automaker plans to sell them through online channels.
However, the EV maker faces strong competition from Chinese and Japanese brands.
In particular, Tesla found its competition with Toyota and Honda, which produces around 1.50 million to 2.00 million units yearly.
Likewise, the market for fuel-based vehicles was mainly dominated by Japanese brands, although EVs were gaining some momentum.
According to Thailand Automotive Institute, it registered about 7,000 new battery EVs during the first ten months of 2022.
Meanwhile, Chinese automakers such as BYD and Great Wall Motors competed in the market.
In recent years, these two companies have set up distribution and showroom partners to attract more customers.
Furthermore, they were offering EVs at the floor price of $22,789.75, which were lower than the starting price of Tesla.
Fortunately, customers who showed up during the automaker’s event expressed their interest in the products.
EV Discounts for Tesla’s Chinese Buyers
Tesla offered a limited-time discount of $859.20 on some models for Chinese buyers, which will last from Wednesday through the end of the year.
This announcement was an addition to its previous price subsidy of $573.12. However, the offer will only apply to customers buying the latest car model.
Previously, Tesla cut the prices of its Model Y and Model 3 cars by 9.00% in China, aside from the additional insurance incentives.
Meanwhile, the US-based automaker continues to struggle with its ample inventory due to slow demand in Beijing’s auto market.
Consequently, its recent offers helped the Shanghai factory release 100,291 EVs in November.
