Search Results for: auto industry
- Thailand video news
Thailand video news | Trump tariff threat hits Thai auto industry, Cambodia rebuilds cathedral destroyed by Khmer rouge
In today’s Thailand video news, Alex and Jay bring key stories from Thailand and Southeast Asia. Thailand’s auto industry faces uncertainty as Trump’s proposed tariff threatens exports. Meanwhile, dramatic incidents unfold in Pattaya, including a hostage standoff involving a Tunisian tourist and a drunk American causing chaos on the road. In Bangkok, plans for a Formula One Grand Prix by…
- Business News
Thailand’s economy shifts into gear but auto industry hits a bump
Thailand’s economy is on a cautious upswing, buoyed by a surge in exports, a bustling tourism sector, and healthier private consumption. Yet, the road ahead isn’t entirely smooth, with the automotive industry hitting a bump. The Fiscal Policy Office (FPO) has laid bare the mixed fortunes in its recent October economic report, painting a picture of resilience tinged with challenges.…
- Thailand News
Thailand’s auto industry brakes as production target stalls
Thailand’s auto industry is stuck in first gear, with car production now expected to fall short of the 1.7 million target for 2024 as sales and exports hit a serious slump. The Federation of Thai Industries (FTI) warns that car manufacturing could face another downgrade this year, with officials predicting a sharp drop from the original target of 1.7 million…
- Automotive
The top auto industry leaders gathered in Pattaya for the SMM automotive conference
The ASEAN Automotive Supply Chain Conference, organised by Shanghai Metal Market, was held at the Hilton Pattaya, Thailand, from June 18 to 19, 2024. The forum, themed Dual Circulation for Global Development, spotlighted the significant transition within China’s automobile industry, focusing on the shift from internal combustion engines to new energy vehicles and the global expansion of its industry chain…
- Automotive
Thai auto industry shows resilience in 2023 Bangkok International Motor Show
The 2023 Bangkok International Motor Show came to an end on Sunday, and the numbers show that the Thai automotive industry is making a strong comeback. Car and motorcycle bookings increased by more than 35% year-on-year to 45,983 units, a figure attributed to an improving economy and the growing popularity of electric vehicles (EVs). Jaturon Komolmit, Vice-Chairman of Grand Prix…
- Automotive
How to succeed in Thailand’s automotive market: Insights from SMM’s industry event
As one of the largest manufacturers in Southeast Asia, Thailand’s automotive industry boasts impressive growth opportunities, particularly in the electric vehicle (EV) sector. In addition to its geographical location, competitive labour costs, well-developed infrastructure, and supportive business environment, the country also has a pro-investment government. Take, for example, the incentives for joint ventures between Thai and foreign companies to manufacture…
- Business News
Thai industry leader defends Bank of Thailand’s financial autonomy
Federation of Thai Industries (FTI) Vice Chairman Montri Mahaplerkpong voiced opposition to any proposals that would impede the Bank of Thailand‘s (BoT) authority over its financial stability management. Montri argued that the government should explore more palatable solutions to its disagreement with the BoT over policy rates, rather than attempting to curtail its power, which he sees as a contentious…
- Automotive
Data practices are holding back the automotive industry
Today, our cars are not just vehicles, they’re like smartphones on wheels, loaded with exciting insights into our lives, from habits to preferences and every adventure in between. As we zoom ahead in this digital age, there’s a buzzing conversation about how automakers are handling these data practices. Imagine, each time you hit the road, you’re lighting up a vast…
- Business News
Thai automotive industry urged to embrace sustainability
Emphasising the necessity for sustainability and clean energy, the Thai automotive industry is being encouraged to swiftly adapt to new global regulations. Furthermore, the industry is advised to utilise free trade agreements (FTAs) to enhance its competitive stance. Following a meeting with the Thai Automotive Industry Association (TAIA) and the Automotive Industry Club of the Federation of Thai Industries (FTI)…
- Business News
EV and SUV sales set for boost in Thailand amid automotive industry changes
This year, the automotive industry anticipates uneven sales growth, shaped by motorists’ evolving preferences and lenders’ decision-making. Electric vehicle (EV) makers and banks will be crucial in shaping domestic sales, especially within the pure pickup category. As per the Federation of Thai Industries (FTI), EVs, pickup passenger vehicles (PPVs), and sport utility vehicles (SUVs) are predicted to be this year’s…
- Business News
Thai Automotive Institute boosts EV industry with new test track
The Thailand Automotive Institute (TAI) is set to boost Thailand’s electric vehicle (EV) industry, constructing a test track to provide manufacturers with a range of testing services, subsequently becoming a new revenue stream for the country. This track, under construction in Chachoengsao, is designed to facilitate a broad spectrum of tests including braking and parking brake performance, speed, distance and…
- Thailand News
Japan revs up Thai automotive industry: Major automakers inject 150 billion baht boost
In a move set to ignite Thailand‘s automotive industry, four major Japanese car giants are gearing up to pump a staggering 150 billion baht into manufacturing electric vehicles (EVs) in the country. This collaboration underscores Thailand’s ascent as a powerhouse in the automotive world and spotlights the government’s triumphant push towards an electrifying future. Four heavyweight Japanese automotive juggernauts are…
- Business News
Thai EV sales rise 46% but face industry challenges
The recent increase in electric vehicle (EV) sales in Thailand, marked by a 46% rise in battery EVs (BEVs) from January to April, does not necessarily indicate a smooth trajectory for the industry. Despite this growth, challenges persist, including heightened competition among manufacturers and a downturn in the automotive sector. The Automotive Industry Club of the Federation of Thai Industries…
- Crime News
Thai industry ministry shuts down toxic waste site in Chachoengsao
The Ministry of Industry, led by minister Ekanat Promphan, is preparing to shut down Kumpan Thong Industry Company, a site linked to toxic waste in Phanom Sarakham district, Chachoengsao province. The company allegedly distributed contaminated soil to locals for landfills and operated a factory without proper authorisation since late May. The ministry’s task force, dubbed Team Sudsoi, in collaboration with…
- Crime News
Thailand crackdowns on illegal green oil use in fishing industry
Deputy Finance Minister Paopoom Rojanasakul launched an initiative in Rayong province to tackle the illegal use of green oil, a diesel meant for fishermen. The effort involves utilising technology to monitor shipping routes in real-time through RTS and AIS systems. Paopoom emphasised that his visit to Rayong was focused on overseeing the control and regulation of green oil to prevent…
- Business News
Trumped up trouble puts brakes on Thailand’s car industry
Thailand’s car industry is veering off course, with annual production now expected to skid below target thanks to Washington’s punishing tariffs and a domestic market bogged down by debt and rejected loans. Thailand’s automotive engine is spluttering, with the Federation of Thai Industries (FTI) warning that this year’s car production is set to fall short of its 1.5 million-unit goal,…
- Business News
AI and automation: How tech is reshaping the workforce
Technological advancements are revolutionising the workforce, altering job roles and increasing productivity across various sectors. Innovations like artificial intelligence and automation are redefining the future of employment. The Bureau of Labor Statistics has documented a significant shift in the workforce due to these emerging technologies. McKinsey’s detailed report highlights automation’s role in streamlining processes, boosting efficiency, and creating new job…
- Thailand News
Naomi Campbell discusses Thai fashion industry boost with PM
Former supermodel Naomi Campbell engaged in discussions with Thailand Prime Minister Paetongtarn Shinawatra yesterday, February 10, aiming to elevate Thailand’s presence in the global fashion industry by fostering the development of supermodels and fashion. Campbell’s meeting with the prime minister at the Government House focused on strategies to position Thailand as a leading nation for supermodels and a hub for…
- Thailand News
Fire at Buriram auto shop causes 100,000 baht damage
A fire incident occurred yesterday at a second-hand auto parts shop in Nong Hin, Pang Ku subdistrict, Prakhon Chai district, Buriram province. The blaze broke out yesterday, on February 4, after a man dismantling a car accidentally ignited the vehicle’s fuel tank. The blaze completely destroyed the car and spread to a pile of spare parts. Police Lieutenant Colonel Udomsak…
- Business News
Red light: Thailand’s car industry caught in hybrid dilemma
Thailand’s car production industry, a powerhouse of the national economy, stands at a pivotal red light crossroads. The decision now looms large: should the focus be on propelling battery electric vehicles (BEVs) into the spotlight, or should there be a concerted effort to guide the internal combustion engine (ICE) sector through a transitional phase towards electric vehicles (EVs)? With the…
- Thailand News
Thailand’s automotive production lowest since pandemic
Thailand’s automotive sector faces a significant downturn in 2024, with the Federation of Thai Industries (FTI) projecting annual vehicle production to hit 1.5 million units, marking the lowest output since 2021’s pandemic-affected figures. Speaking at a briefing today, November 25, FTI automotive industry group spokesperson Surapong Paisitpatnapong announced this second downward revision of the year. The federation had previously lowered…
- Thailand News
Buckle up: Thai auto shifts gears for loan market acceler-ace-tion
Hold onto your seat belts, folks, because CIMB Thai Auto is gearing up for a high-octane comeback in the used car loan market. The subsidiary of CIMB Thai Bank (CIMBT), known for its expertise in financing pre-loved motors, has its eyes set on a market turnaround next year, fuelled by a gradual economic recovery and cooling interest rates. Upbeat Managing…
- Business News
Auto boom: Thailand revving up as global car parts powerhouse
Thailand is racing ahead in the fast lane of auto parts manufacturing in the Asia-Pacific region, speeding towards becoming a crucial export hub for Germany’s esteemed Schaeffler Group. Spotlighting both traditional internal combustion engines (ICE) and the rapidly accelerating electric vehicle (EV) industry, Schaeffler is gearing up for an automotive revolution. Micah Shepard, Schaeffler’s head honcho for vehicle lifetime solutions…
- Business News
Gearing down: Thai auto parts makers face shock as EVs speed ahead
Thai auto parts manufacturers for internal combustion engine (ICE) vehicles face significant disruption due to the rising popularity of electric vehicles (EVs), according to Tru Automotive, a supplier of auto parts under the TRW brand. Pornsak Ariyapongpairoj, Managing Director of Tru Automotive, stated that sales of parts for ICE cars are expected to decline as EV makers do not use…
- Automotive
Automotive expos in Thailand that you should go
Thailand’s automotive expos offer a diverse experience for car enthusiasts and industry professionals alike. These events showcase everything from cutting-edge electric vehicle technology to timeless classic cars, showing the country’s pivotal role in the global automotive landscape. Main players events like the Bangkok International Motor Show, alongside specialized exhibitions such as Electric Vehicle Asia and the Thailand International Auto Parts…
- Business News
Thai gear shift: BOI revs up JV incentives for global auto partners
Thailand announced incentives to encourage joint ventures (JV) between Thai and foreign companies to produce automotive parts for various propulsion systems, the Board of Investment (BOI) revealed yesterday. Recognised as Southeast Asia’s leading automotive production hub, Thailand also serves as a significant export base for prominent global car manufacturers. The government is keenly promoting investments in electric vehicles (EVs), offering…
- Business News
Thai auto parts makers pivot to medical devices amid EV shift
The Federation of Thai Industries (FTI) plans to present a proposal to the government this month aimed at bolstering the local medical device business. This initiative seeks to assist auto parts manufacturers in diversifying their operations amid the vehicle industry’s transition to electric vehicle (EV) technology. The shift in the industry provides an opportunity for auto parts makers, particularly those…
- Business News
Shifting gears: Thai auto parts makers urged to spark new path in medical devices
The Federation of Thai Industries (FTI) is urging local auto parts manufacturers to adapt to the technological disruption caused by electric vehicles (EVs) and transition to producing medical devices, which are projected to have a promising future. According to the FTI, auto parts makers accustomed to internal combustion engines are finding it difficult to adapt to electric mobility technology, as…
- Business News
Car industry faces crunch as EV demand slumps and costs rise
The automobile industry, stretching from Europe to Asia, is bracing for a tough year ahead as rising costs and a slump in electric vehicle (EV) demand begin to take their toll on profits. Mercedes-Benz Group AG, yesterday, revealed plans to extend the lifespan of their combustion-engine cars due to underwhelming EV sales. Toyota Motor Corp, anticipating a 20% drop in…
- Business News
Automotive giants shift gears towards BEVs and HICEVs
The fight against climate change has urged automotive industry leaders to focus on battery electric vehicles (BEVs) and hydrogen internal combustion engine vehicles (HICEVs). This is a critical step in reducing the greenhouse gas emissions caused by traditional internal combustion engines and contributing to a more sustainable transport future. Original Equipment Manufacturers (OEMs) worldwide have made the bold commitment to…
