Ten auto companies have submitted applications to join the Eco Car Phase 2 scheme, committing to invest over Bt139 billion, according to the Board of Investment (BoI).
Their combined capacity is 1.58 million vehicles.
Of total, five of them are those winning the privileges in the first phase, said Udom Wongviwatchai, secretary general of the investment promotion agency.
"The interest has been higher than expectation, reflecting their confidence in Thailand's potential as a global automotive manufacturing hub in the world," he said.
He expects the investment to benefit local auto-parts suppliers.
The phase 2 had opened for applications during August and March 31.