ETNA. China’s Yantai Shuchi Group (YSG) has signed a memorandum of understanding with Thailand’s Siri Project Construction and PS Natural Gas to produce natural gas vehicles (NGV) in Thailand for export to the Association of Southeast Asian Nations (ASEAN).
Yantai Shuchi Vehicle company will invest up to US$1 billion in Thailand to produce natural-gas buses and passenger vehicles and to operate NGV service stations along with car leasing services. An initial US$53-million investment will fund the production of 300 NGVs.
Yantai Shuchi Vehicles is a 30-70 joint venture between the Chinese government and the private sector. The firm is ranked in China’s top five makers of NGVs and is the top producer of such vehicles in eastern China’s Shandong province.
Separately, Daimler Chrysler Thailand said it has invested in the assembly of its bi-fuel E200 NGT sedan in Thailand because the firm believes in the growth potential of NGV vehicles in the area. The E200 NGT is due for commercial launch in Thailand by the end of the year. (Earlier post.)