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

Thailand expected at least $5 billion in investment from Tesla, Google, and Microsoft, Prime Minister Srettha Thavisin said.

“Tesla would be looking into an EV manufacturing site, while Microsoft and Google are looking into data centers,” he stated, without specifying if the $5 billion would be a combined investment or made separately by each business.

Tesla, Google, and Microsoft did not immediately reply to demands for comment, according to “reuters.”

Srettha was addressing reporters in Bangkok after returning from the United Nations General Assembly in New York, where he met with industry leaders earlier this week.

Fresh foreign investment would help Thailand’s faltering economy, which is anticipated to grow by 2.8% this year, which is lower than originally predicted owing to weaker exports.

Srettha discussed the electric car industry with Tesla CEO Elon Musk last week.

 Thailand, Asia’s fourth-largest car assembly hub, has been providing incentives to EV and battery producers, as well as tax reductions to local EV buyers, in order to keep its regional auto center status.