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King Gen PCL (KGEN.BK)

Q3 2026
▲4

Tax break and new models power King Gen's turnaround

  • EV import tax hike favors local assembly Thailand raised taxes on imported EVs to 30–50%, making rivals' imports pricier. King Gen's locally assembled Chery and JAECOO models, with 40% local parts, qualify for the lowest excise tier, giving them a price edge.

    This policy shift directly boosts demand for King Gen's locally made vehicles over imported competitors.

  • Swing to profit and strong bookings King Gen swung from a 71.5 million baht loss to a 37 million baht profit. JAECOO 5 bookings topped 10,000, and over 10,000 cars were booked at the Big Motor Sale, signaling robust customer demand.

    The return to profitability and record bookings show the company's financial and operational turnaround.

  • Expanding lineup and production ramp-up New models like the LEPAS L6, iCAUR V27 REEV, and FARIZON, plus a Huawei-linked brand, broaden its offerings. Monthly production now exceeds 4,000 vehicles, targeting 40,000, with Trinity Securities forecasting a 504 million baht profit for 2026.

    A wider model range and rising output support future growth and analyst optimism.

  • Strategic investment and stake increase Rayong Wire Industries is taking a 7.68% stake in King Gen, funding an increase of King Gen's OJMT plant stake from 51% to 60%. This brings in capital and strengthens control over production.

    The investment provides financial backing and operational control, supporting expansion plans.

August 2026
▲4

Tax break and new models power King Gen's turnaround

  • EV import tax hike favors local assembly Thailand raised taxes on imported EVs to 30–50%, making rivals' imports pricier. King Gen's locally assembled Chery and JAECOO models, with 40% local parts, qualify for the lowest excise tier, giving them a price edge.

    This policy shift directly boosts demand for King Gen's locally made vehicles over imported competitors.

  • Swing to profit and strong bookings King Gen swung from a 71.5 million baht loss to a 37 million baht profit. JAECOO 5 bookings topped 10,000, and over 10,000 cars were booked at the Big Motor Sale, signaling robust customer demand.

    The return to profitability and record bookings show the company's financial and operational turnaround.

  • Expanding lineup and production ramp-up New models like the LEPAS L6, iCAUR V27 REEV, and FARIZON, plus a Huawei-linked brand, broaden its offerings. Monthly production now exceeds 4,000 vehicles, targeting 40,000, with Trinity Securities forecasting a 504 million baht profit for 2026.

    A wider model range and rising output support future growth and analyst optimism.

  • Strategic investment and stake increase Rayong Wire Industries is taking a 7.68% stake in King Gen, funding an increase of King Gen's OJMT plant stake from 51% to 60%. This brings in capital and strengthens control over production.

    The investment provides financial backing and operational control, supporting expansion plans.

Latest
▲4

KGEN's EV output and sales surge, turning profitable

  • New EV models and brands drive demand KGEN launched the LEPAS L6 EV and plans two more brands, including one with Huawei. It also added the FARIZON commercial EV brand and the iCAUR V27 REEV, which got over 3,000 bookings. More models mean more sales and market share.

    New product launches directly boost future revenue and show KGEN is expanding its EV lineup.

  • EV tax change favors local production Thailand's new three-tier excise tax will raise rates on imported EVs to about 30% by year-end, but KGEN's locally assembled cars with high local parts qualify for the lowest tier. This makes rivals' imports pricier and could pull forward buying, helping KGEN sell more.

    The tax change is a key regulatory shift that improves KGEN's competitive position and near-term demand.

  • Production ramp-up and profit turnaround KGEN's OJMT plant now makes over 4,000 vehicles a month and has produced 20,000 this year, targeting 40,000. Trinity Securities expects a swing from a 136 million baht loss in 2025 to a 504 million baht profit in 2026, with revenue jumping to 24.96 billion baht.

    The production increase and analyst profit forecast show the company is scaling up and becoming profitable.

  • New investor and capital boost Rayong Wire Industries (RWI) is taking a 7.68% stake for up to 250 million baht, strengthening KGEN's supply chain and finances. KGEN will use the funds to raise its stake in the OJMT plant from 51% to 60%, leading to full consolidation and a big revenue jump in Q4.

    The new capital and increased ownership in the plant directly support growth and future earnings.

▲4

KGEN rides EV tax break, profit swing, and 10,000+ bookings

  • EV import tax hike favors local plants Thailand plans to raise taxes on imported EVs to 30–50%, but KGEN's Chery plant in Rayong uses 40% local parts and is exempt. This makes rivals' imported cars pricier, helping KGEN sell more.

    This policy directly boosts KGEN's competitive position and pricing power versus import-only rivals.

  • Swing to profit on EV sales KGEN turned a 71.5 million baht loss into a 37 million baht profit last quarter as EV revenue started. It expects thousands more B2B vehicle deliveries in the second half, with orders from Big C and Krating Daeng.

    The profit swing shows the business is now making money, a key fundamental driver for the stock.

  • JAECOO 5 orders top 10,000 Reservations for the JAECOO 5 EV passed 10,000 units, with delivery due by end-2026. KGEN will launch three more EV models and lift monthly capacity to 8,000 units next year, signaling strong demand.

    Surging orders and capacity expansion point to higher future revenue and earnings.

  • Top seller at Big Motor Sale KGEN booked over 10,000 cars at the Big Motor Sale 2026, the most of any brand, led by the JAECOO 5 EV. The factory is adding shifts to deliver about 20,000 cars in the final four months.

    This confirms strong consumer demand and supports the company's delivery and revenue targets.

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