NEX Inks the Deal with China’s ‘Dayun’ to Manufacture Small EV in Thailand

Nex Point Public Company Limited (SET: NEX) has announced the execution of the passenger car strategic cooperation agreement via the Stock Exchange of Thailand (SET).

The company and Dayun Automobile Co., Ltd (Dayun), an electric vehicle manufacturer registered in the People’s Republic of China, has entered into a Passenger Car Strategic Cooperation Agreement (SCA) regarding the cooperation on the development to manufacture the small electric vehicle in Thailand. In the initial phase, the company will import the small electric SUV brand Yuehe (Product) for the purpose of marketing and test the consumer response to ensure the feasibility of investing further into the manufacture of the vehicles in Thailand for both domestic and overseas Right-Handed drive markets.

The execution of the SCA will enhance the capability and competitive advantage of the company and support the government’s policy to promote clean energy, as Thailand has committed to the targets to achieve carbon neutrality by 2050 and net-zero greenhouse gas emissions by 2065 at the COP27 conference.

The Product is targeted the Eco Car segment which has approximate new registration around 100,000 vehicles per year. The company is in the process of considering to comply with EV 3.5 policy support for the government to ensure the capability of selling the Product at the attractive price below 490,000 Thai Baht. The company will get the Board Approval when the details on the investment has been finalized and will inform the Stock Exchange of Thailand for further details.