The construction market in Asia Pacific is forecasted by GlobalData to grow by 3.7% in real terms in 2024, having grown by 3.9% in 2023. A key growth market will be the infrastructure market, with output rising by 11.9% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are Asia Pacific’s five largest automotive construction projects that were initiated in Q1 2024, according to GlobalData’s construction projects database.
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1. Thoothukudi Electric Vehicles and Battery Manufacturing Plant
The project involves the construction of an electric vehicle and battery manufacturing plant on 153.70ha of land with a production capacity of 150,000 vehicles per annum in Thoothukudi, Tamil Nadu, India.
Construction work started in Q1 2024 and is expected to be completed in Q4 2025.
The project aims to capitalize ongoing demand for electric vehicles to increase EV adoption in the country. Buy the profile here.
2. Rembau EV Manufacturing and Assembly Plant
The project involves the construction of an Electric Vehicle (EV) manufacturing and assembly plant on 29.68ha of land in Rembau, Negeri Sembilan, Malaysia.
Construction work commenced in Q1 2024 and is expected to finish in Q1 2029.
It will create 600 operational jobs. Buy the profile here.
3. Changzhou Automobile Parts Production Base Expansion
The project involves construction of an automobile parts production base in Changzhou, Jiangsu, China.
Construction work started in Q1 2024 and is forecast to complete in Q1 2026.
The project aims to provide better manufacturing facilities in the region.
4. Lang Giang Electric Motorcycle Manufacturing Plant
The project involves the construction of an electric motorcycle manufacturing plant on 23ha of land in Bac Giang province, Vietnam.
Construction work commenced in Q1 2024 and is expected to be completed in Q4 2025.
The project will provide 2,000 direct jobs and 45,000 jobs in the vendor industry.
5. Tan Hung Industrial Park Electric Vehicle Manufacturing Plant
The project involves the construction of a manufacturing plant with a production capacity of two million units per annum on 23.2ha of land in Bac Giang, Vietnam.
Construction work started in Q1 2024 and is expected to be completed in Q1 2025.
It will create 3000 jobs in the region. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
