Tesla enters Thailand with two models going head-to-head against Japanese rivals
Spencer Platt

Tesla (NASDAQ:TSLA) launched two electric vehicle models in Thailand on Wednesday to compete directly for the first time with Japanese manufacturers and other Asian car makers in the nation.
Tesla's (TSLA) entrance into Thailand follows an initiative by the government for at least 30% of vehicles produced in the country to be electric by 2030.
The two electric vehicles launched by Tesla will be priced in a range of $48.5K to $71.2K or 1.7M baht to 2.5M baht in local currency. The electric vehicle giant plans to start selling its EVs in Thailand through online channels, with deliveries scheduled to begin early in 2023. Tesla (TSLA) will open its first service center and Supercharger station in Thailand by March.
On Wall Street on Wednesday, Bernstein warned that Tesla (TSLA) may need to take additional price cuts in China to stoke demand and in the U.S. to qualify for IRA rebates. Analyst Toni Sacconaghi thinks TSLA will offset part of the price cuts through higher margins out of the Gigafactories in Austin and Berlin.
Shares of Tesla (TSLA) fell 2.12% in premarket trading to $176.01 and are swapping hands near the bottom of the 52-week range of $166.19 to $402.67.