Sales declined by 15% to 276,272 in the third quarter of 2024.

Geely is looking to establish itself as a leading electric pickup supplier to Thailand.

Scania has had a presence in Thailand since 1986 and has been represented both by private distributor and as part of the joint Scania-owned South East Asia Business Unit.

The Thai market for commercial vehicles over 2 tons gvw is estimated to have plunged by a further 22% year-on-year to 50,516 units in the second quarter of 2024, having fallen by close to 37% to 64,567 units in the same period of last year.

The plant is managed by the company’s local subsidiary, Yuchai Power System (Thailand) Company Ltd, based in Samut Prakan just outside Bangkok.

The company said the Thai plant would be used to supply markets across South-east Asia, Middle East as well as Latin America, replacing the existing C&E Series models.

Sales for commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, continued to decline in the second quarter of 2024.

Incentives include tax exemptions of between two and eight years, financial support and streamlined regulations (with other nations).

This marked an important milestone in the electric pickup truck manufacturer’s global expansion, with the Thai subsidiary to serve as a hub for the company’s expansion into other markets in South-east Asia. Radar also launched its Riddara brand in Thailand.

The Thai commercial vehicle market over 2 tons gvw plunged by 42% to 54,398 units in the first quarter of 2024 from an already weak 93,107 units a year earlier.

The market for commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, continued to deteriorate in the first quarter of 2024 - with sales falling sharply by more than 28% year-on-year to 268,053 units.

The plan is to start mass production of a battery-powered version of the Hilux pickup truck for Thailand and for export.