Under this partnership, UOB will provide Chang’an with a wide range of financial services, including:
▪︎ Global Credit Services: Provides Chang’an with access to financing for expansion plans such as developing new EV models, building new manufacturing facilities, and expanding its dealer network.
▪︎ Foreign Exchange Services: Helping you manage your foreign exchange risks.
▪︎ Risk Management Services: Helping automakers reduce risks such as credit and market risks.
Green financing: Supporting the financing of EV projects in Chang’an City, in line with UOB’s sustainability efforts.
Changan, a major Chinese automobile manufacturer, began manufacturing EVs in 2016. The company has a strong presence in China and is expanding its operations to other regions, including ASEAN.
Tan Chun Hing, President and CEO of UOB Thailand, said that Changan has received positive feedback on its recent official entry into Thailand’s electric vehicle market, and has made Thailand a regional EV producer. He said he is working hard to use the facility as a base.
As a leading regional bank, UOB has strong footholds in both Thailand and ASEAN. Mr. Tan said a strong network of financial products and services is ready to support Changan’s overseas business expansion plans.
Chen Jianfeng, vice president and finance director of Changan Automobile, said UOB plays an important role in supporting the company’s entry into the Southeast Asian EV market.
He said the partnership between UOB and Changan is an important development for the growth of the EV market in ASEAN, and UOB’s financial services will help accelerate Changan’s expansion plans and make EVs more accessible to consumers in the region. He added that it would be.