Heli Industrial Vehicles (Thailand) Co., Ltd.’s broke ground for its industrial vehicle assembly and lithium battery pack production factory at the Navaan Nong Khuang Industrial Park in Chonburi Province, Thailand Nov. 27, 2025.
To consolidate and expand its leading position in the global market, actively advance its global strategic layout, and build a global production and supply system, Anhui Heli Co., Ltd. has established a strategic partnership with Siam Motors Parts Co., Ltd., a local Thai enterprise, to jointly establish Heli Industrial Vehicles (Thailand) Co., Ltd.
Through this joint venture, the two parties will co-invest in building a new manufacturing base in Thailand, creating an integrated production and sales platform for industrial vehicle complete machines and lithium battery systems.
The project covers a land area of approximately 84,330 square meters, with a total construction area of 50,550 square meters, and a total investment of approximately RMB 425 million (approximately USD 60 million).
The complex includes production facilities, an office building, and supporting infrastructure, equipped with intelligent production lines. Upon full operation, the factory’s annual production capacity will reach 10,000 forklifts and 10,000 lithium battery packs.
Source: ccm-1 Read The Article
PSR Analysis: The product strategy focuses on localization adaptation and technological innovation. It involves developing rust-resistant and corrosion-proof forklift enclosures and battery protection systems tailored to the hot and rainy climate, launching 1-3 ton new energy forklifts to meet the lightweight demands of industries like electronics and textiles, and simultaneously developing low-cost lithium battery solutions to reduce customers’ initial investment.
It also incorporates IoT technology for remote monitoring and fault alerts, introduces autonomous forklifts to cater to e-commerce and port automation scenarios, and obtains new energy certifications from various Southeast Asian countries.
The strategy adopts a dual-driven approach of direct sales and distribution, establishing regional sales centers in Thailand, Vietnam, and Indonesia to provide rapid response services. It leverages new energy subsidy policies in Southeast Asia (such as Thailand’s EV 3.0 and Indonesia’s tax incentives) to help customers reduce procurement costs, launches a “trade-in” program to phase out highly polluting diesel forklifts, and collaborates with local banks to offer low-interest loans and installment plans, innovating battery leasing services charged on a usage basis.
At the strategic level of competition, Heli will leverage differentiated products and a rapid response mechanism to compete with Japanese and Korean brands. Targeting Japanese brands such as Toyota and Mitsubishi in Southeast Asia, Heli will introduce competitive cost-effective new energy forklifts to capture the mid-range market, emphasizing the localization advantages of “Chinese technology + Thailand manufacturing” to reduce tariffs and logistics costs.
Simultaneously, to counter price wars, Heli will collaborate with local Southeast Asian enterprises (such as Siam Motors in Thailand) through technology transfer or joint venture models, adopting a flexible pricing strategy of “basic models + optional modules” to help penetrate the market.
The company also plans to establish a localized supply chain in Thailand (covering core components like batteries and motors) to reduce geopolitical risks and it plans to form long-term partnerships with raw material suppliers in Southeast Asia to ensure supply stability.
Additionally, it will use RMB-THB dual-currency settlement to hedge against exchange rate fluctuations and closely monitor trade policy changes across countries to dynamically adjust strategies.
The plan will be implemented in three phases: in the short term, focus on the Thai and Vietnamese markets to quickly establish reference customers and build a strong reputation; in the medium term, expand into Indonesia and Malaysia to refine the distribution network and service capabilities; and in the long term, strive to become the market leader in Southeast Asia and extend its influence to India and the Middle East, ultimately achieving the dual goals of rapidly capturing the market and accumulating global expansion experience. PSR
Jack Hao is Senior Research Manager – China for Power Systems Research
