Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Equity Bottom-Up

<p>There is much talk about Tesla's plans on the ground to expand production into Thailand, even if they don't seem to have adequate capital. Potential beneficiaries include battery maker BAT-3K and firms that could build some of its circuit boards and other components (KCE and Forth). The impact on autoparts makers (OEM) is still quite unpredictable at this stage, since firms like AH (Aapico Hi-tech) have no experience supplying to Tesla.</p><p>Further away from the eye of the storm, Sansiri has already built EV chargers in some of its developments. We also met with management from solar power company Superblock who expressed strong skepticism about Tesla's prospects both in Thailand and even globally.</p>

There is much talk about Tesla's plans on the ground to expand production into Thailand, even if they don't seem to have adequate capital. Potential beneficiaries include battery maker BAT-3K and firms that could build some of its circuit boards and other components (KCE and Forth). The impact on autoparts makers (OEM) is still quite unpredictable at this stage, since firms like AH (Aapico Hi-tech) have no experience supplying to Tesla.Further away from the eye of the storm, Sansiri has already built EV chargers in some of its developments. We also met with management from solar power company Superblock who expressed strong skepticism about Tesla's prospects both in Thailand and even globally.

Thailand

Forth Corp PCL manufactures and sells telecommunications and electronic equipment. The Company also develop and install the data management system, manufactures, sells, and installs traffic light system and equipment, manufactures and sells electronic signs, as well as distributes electronic parts.

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Forth Corp PCL (FORTH TB)

What if Tesla Comes to Detroit of Asia?

There is much talk about Tesla's plans on the ground to expand production into Thailand, even if they don't seem to have adequate capital....

Athaporn Arayasantiparb, CFA

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