© Reuters. Tesla (TSLA) Launches two EVs in Thailand
By Michael Elkins
American electric vehicle maker Tesla (NASDAQ:) has launched two models in Thailand on Wednesday as the car maker continues its expansion into the Asian market. The announcement marks the company’s first venture into a region that has long been dominated by Japanese manufacturers.
The launch comes as Thailand makes a push for EV adoption and production by offering tax cuts and subsidies. The two EVs have a price range between THB 1.7 million to THB 2.5M (($48,447 to $71,205), and will be available via online channels, with deliveries set to start early next year.
However, Tesla faces stiff competition from Chinese brands like BYD (HK:) and Great Wall Motor (HK:), which have set up showrooms and distribution partners in recent years to reach customers and offer EVs with prices starting at 800,000 baht.
Shares of TSLA are down 2.93% in pre-market trading on Wednesday.
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