Thailand expects Tesla, Google, Microsoft to invest $5 billion

September 26, 2023

By Chayut Setboonsarng and Panarat Thepgumpanat

BANGKOK (Reuters) – Thailand’s Prime Minister Srettha Thavisin said on Sunday the country expected to receive investment of at least $5 billion from Tesla, Google and Microsoft.

“Tesla would be looking into an EV manufacturing facility, Microsoft and Google are looking at data centres,” he said, without detailing whether the $5 billion was expected to be a combined investment or made individually by each company.

Tesla, Google and Microsoft did not respond immediately to requests for comment.

Srettha was speaking to reporters in Bangkok after attending the U.N. General Assembly in New York where he also held talks with company executives earlier this week.

Fresh foreign investment would boost Thailand’s flagging economy, which is expected to grow by 2.8% this year, less than previously projected, due to weaker exports.

Thailand expects Tesla, Google, Microsoft to invest $5 billion — Thailand’s Prime Minister Srettha Thavisin speaks during a press conference after a weekly cabinet meeting at the government house in Bangkok, Thailand, September 13, 2023. REUTERS/Athit Perawongmetha/File Photo

Srettha spoke with Tesla CEO Elon Musk last week about the electric vehicle sector.

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.