Tesla (TSLA) Launches two EVs in Thailand

American electric vehicle maker, Tesla (NASDAQ: TSLA) 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 1.7 million baht to 2.5 million baht (($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 and Great Wall Motors, 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.

By Michael Elkins | [email protected]

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