Krungsri Auto achieves 146 million baht in EV financing from Motor Show

Tuesday 12 April 2022 10:26
Krungsri Auto, a leader in automotive finance under Bank of Ayudhya PCL., unveiled impressive electric vehicle (EV) financing results from Motor Show 2022, with new volume of 146 million baht and accounting for 15% of total new volume generated at the event. Reinforcing its leadership in full-suite EV financing, Krungsri Auto will deliver comprehensive auto financing solutions for all brands and models and expand its ecosystem to provide complete lifestyle experiences for electric vehicle users.
Krungsri Auto achieves 146 million baht in EV financing from Motor Show

Mr. Congsin Congcar, Head of Krungsri Auto Group, Bank of Ayudhya PCL., said, "Thailand's electric vehicle market experienced continuous growth during the past three to four years. According to Electric Vehicle Association of Thailand, the accumulated number of battery electric vehicle (BEV) registrations reached 11,382 units in 2021, an increase of 100% from the previous year. Krungsri Auto estimates that the market will see outstanding growth this year, due to various new model launches by manufacturing brands and supportive measures from government agencies, such as tax incentives and charging station installation plan across the country."

"Krungsri Auto offers comprehensive EV financing, covering both cars and motorcycles. We also have a strong network of manufacturing brands and nationwide dealer partners. In 2021, our total new EV financing volume grew by 56% from the previous year. During the recently concluded Motor Show, EV loans have received enthusiastic response from our customers, generating 146 million baht in new volume and accounting for 15% of total new lending volume achieved at the event," added Mr. Congsin.

Building on the success of Motor Show, Krungsri Auto will strengthen its EV financing business with the 'Comprehensive and Complete' strategy under two approaches. Firstly, it continues to provide comprehensive EV loan solutions across all segments, brands and models through the Customer-based Lending approach and best deal offerings, ranging from interest rates, campaigns, to privileges. Secondly, with the expansion of its mobility ecosystem on the GO Application by Krungsri Auto, it will explore new partnership opportunities with different stakeholders within the EV industry to create useful content and features, as well as complete lifestyle experiences for electric vehicle users.

"Krungsri Auto expects the demands for electric vehicles will continue to increase during the next three to four years because the innovation promises consumers with various benefits, from lower usage costs, environmental friendliness to advanced technology. Moreover, with lowering battery cost trend, electric vehicles will become even more affordable in the future. We truly hope that our auto finance solutions, together with close collaboration with our partners, will be another driving force for wider adoption of electric vehicle in Thailand," concluded Mr. Congsin.

Source: FleishmanHillard Thailand