Search Results for: electric vehicle
- Thailand News
Former MP’s electric vehicle catches fire; investigation underway
A former Democrat Party MP’s plug-in hybrid electric vehicle (PHEV) caught fire, prompting an investigation by police who discovered at least five tyre remnants beneath the vehicle. Officials advise waiting for an official statement from GWM and the police. This incident gained attention when Sirichok Sopha, former Songkhla MP for the Democrat Party, shared his harrowing experience on Facebook. Sirichok…
- Business News
Watt’s next: Thailand powers up for electric vehicle revolution
Thailand’s government is committed to transforming the nation into an electric vehicle (EV) manufacturing hub, with a policy focused on stimulating demand to encourage consumer adoption. Deputy Finance Minister Paopoom Rojanasakul emphasised the importance of building a domestic EV supply to meet this demand. The government has shifted from internal combustion engine (ICE) vehicle production to an EV focus through…
- Thailand News
Thailand cuts car taxes to boost electric vehicle production
Thailand’s National Electric Vehicle Policy Committee has approved a revamped car tax structure to bolster the production of hybrid vehicles and transition from internal combustion engines to electric power. Chaired by Prime Minister Paetongtarn Shinawatra, the committee aims to position Thailand as a leading hub for electric vehicle (EV) and electric motorcycle production in Southeast Asia. Narit Therdsteerasukdi, the Secretary-General…
- Business News
Used car market in a jam as electric vehicles spark trouble
The used car market is in dire straits, with a shocking downturn blamed on the economic slump, soaring non-performing loans (NPLs), and the growing allure of electric vehicles (EVs), warns Tris Rating. In a jaw-dropping revelation, used car hire-purchase firms have reported a staggering 93% plunge in profits year-on-year for the first half of 2024. Motorcycle hire-purchase companies haven’t fared…
- Automotive
The cheapest electric vehicles to buy in Thailand
Thinking about making the switch to an electric vehicle in Thailand but worried about the cost? You’re not alone. With the rising fuel prices and increasing environmental concerns, more and more people are looking for affordable electric vehicle (EV) options that won’t break the bank. Luckily, Thailand’s market has some budget-friendly EVs that are both economical and environmentally friendly. In…
- Business News
MG to produce hybrid electric vehicles in Chon Buri next year
Thailand’s hybrid electric vehicle (HEV) market is set to witness heightened competition as automakers roll out investment plans. The Chinese-Thai joint venture SAIC Motor-CP and MG Sales (Thailand) announced their intention to produce HEVs under the MG brand in Chon Buri by next year. MG is capitalising on a burgeoning domestic market for HEVs, spurred by the Board of Investment’s…
- Thailand News
Tokio Marine updates electric vehicle insurance policy in Thailand
Tokio Marine Insurance (Thailand) Public Company Limited recently announced changes in its electric vehicle (EV) insurance policy, which came into effect yesterday, July 1. The news sparked significant discussion among EV users. Tokio Marine Insurance clarified that it would continue to provide insurance for EVs. The company explained its decision to revise the premium calculation method, influenced by the fluctuating…
- Business News
Thailand boosts chip investment to power electric vehicle industry
The Board of Investment (BoI) is set to ramp up investments in computer chips to bolster the burgeoning electric vehicle (EV) industry in Thailand. This initiative aligns with the state’s strategy to establish a national semiconductor board. As domestic EV manufacturing gains traction, driven by increased foreign investment, the development of related industries becomes crucial, stated Narit Therdsteerasukdi, secretary-general of…
- Business News
Kia considers setting up electric vehicle factory in Thailand
Premium Korean car manufacturer, Kia, is exploring the possibility of setting up an electric vehicle (EV) factory in Thailand, as per an announcement made by Kia Sales (Thailand). The move comes in response to the rapidly expanding EV market in the country. If approved by Kia Corporation, the parent company which falls under the Hyundai Motor Group, Thailand would become…
- Business News
Thailand seeks German investment in electric vehicle industry
Deputy Prime Minister Parnpree Bahiddha-Nukara announced on a recent official trip to Germany, the Thai government’s intention to attract German automobile manufacturers to invest in Thailand’s burgeoning electric vehicle (EV) industry. This initiative is part of the broader plans for Prime Minister Srettha Thavisin’s official visit to Germany next month. The deputy prime minister, who also serves as the foreign…
- Thailand News
Thailand’s future electric vehicles industry workforce
Thailand’s Ministry of Higher Education, Science, Research and Innovation (MHESI) is gearing up to sculpt a formidable workforce of over 150,000 individuals poised to dominate the electric vehicle (EV) industry within the next five years. This electrifying initiative forms the nucleus of the ministry’s holistic strategy aimed at supercharging Thailand’s EV ecosystem. The ministry’s blueprint, announced with much fanfare, is…
- Business News
Electric vehicle market faces risk from non-performing loans
The rising popularity of electric vehicles (EVs) is facing a new challenge as concerns over non-performing loans (NPLs) seep into the EV market. The rapid surge in EV sales has led to worries about whether buyers, many of whom are considered new-generation people with weaker financial standing, will be able to meet their instalments. This could lead to an increase…
- Thailand News
Thailand poised to become regional hub for electric vehicle production
Thailand is stepping into the spotlight as a potential regional centre for Electric Vehicle (EV) manufacturing, bolstered by Prime Minister Srettha Thavisin‘s confidence and support. This sentiment was shared with the public on December 1 by the Government Spokesperson, Chai Watcharong. PM Srettha has reportedly been working closely with various agencies to encourage and aid international private entities, particularly those…
- Transport News
Thailand’s transport ministry commits to 100% public electric vehicles
A bold step towards a greener future was taken by Thailand’s Transport Ministry as it committed to transforming its entire fleet of public transport vehicles into a 100% electric. The initiative, as announced by the Transport Minister, Suriya Jungrungreangkit, begins with the electric conversion of the limousine service of the Airports of Thailand (AoT). This development was shared during Suriya’s…
- Automotive
Chinese EV’s controlling Thai electric vehicle market
Chinese automaker BYD has made significant inroads into the Thai electric vehicle (EV) market, with its popular Atto 3 SUVs which is capturing a 31% market share within 12 months of its launch in October last year. This is a figure that far surpasses the 9,200 new vehicles registered by the Chinese-made Neta V and the Tesla Model Y, which…
- Thailand News
Thai taxi drivers seek incentives to shift to electric vehicles
Taxi drivers across Thailand, represented by the Thai Public Taxi Association, are petitioning the country’s transport minister for a financial incentive package to facilitate their switch to electric vehicles (EVs). Association Chairman, Sadit Jaitiang, plans to bring up this key concern during a vital meeting slated for next Friday with Transport Minister Suriya Jungrungreangkit. The meeting is expected to address…
- Business News
31% of Thais eye battery electric vehicles as next car choice
A recent survey by Deloitte Thailand revealed that 31% of Thai consumers are likely to opt for a battery electric vehicle (BEV) as their next car, the highest percentage in Southeast Asia. Despite this, internal combustion engine vehicles continue to be the preferred choice in the region. The survey, conducted between September and October last year, focused on consumer behaviour…
- Business News
Thailand partners with Asean organisations to develop electric vehicle battery technology
Thailand has joined forces with five technology and electric vehicle (EV) organisations in Asean to conduct a joint study and develop EV battery technology, in efforts to strengthen the booming EV industry in the region. This collaboration aims not only to enhance the EV ecosystem but also to support Asean’s economy under its sustainable development concept, stated Pimpa Limthongkul, the…
- Business News
Japanese automakers struggle in China amid rapid shift to electric vehicles
The sales crisis for Japan’s automakers in China continues, as industry data reveals a rapid shift towards electric vehicles (EVs), resulting in a steep decline in gasoline-powered vehicle purchases. In the first quarter, total sales of Japanese auto brands in China dropped by 32% year-on-year, more than twice the rate of overall market contraction. While automakers such as Volkswagen AG…
- Economy News
Electric vehicles to hit the accelerator this year, says FTI
The Federation of Thai Industries (FTI) predicts a bold future for Thailand’s electric vehicle (EV) industry, unlike the International Monetary Fund which believes the kingdom is heading for a recession. The FTI reckons the EV industry will hit the accelerator this year and sell between 25,000, to 35,000 cars, reports Bangkok Post. But, to achieve that target the EV industry…
- Phuket News
Electric vehicles are now available to rent in Phuket, Thailand
Phuket has entered a new era of sustainability by welcoming the island’s first ever rentable 100% electric vehicle (EV). Tourists can rent the Nissan Leaf from SIXT Thailand and cruise around Phuket without producing any harmful emissions at all. SIXT Thailand partnered with InterContinental Phuket Resort on the project, who have installed a series of EV charging stations compatible with…
- Transport News
Thai PM promises to accelerate Thailand’s electric vehicle future
The Thai PM wants to cement Thailand’s reputation as the biggest SE Asian hub for car manufacturing, and electric cars too. Currently Thailand is the world’s 10th largest manufacturer of vehicles (OICA 2021). Some of the world’s leading automobile manufacturers – Honda, Toyota, Mitsubishi, Nissan, Suzuki, Mazda, Mercedes Benz, Ford, Volvo and BMW – have manufacturing plants in Thailand. Last…
- Thailand News
450 charging stations for electric vehicles by the end of 2022
PTT Oil and Retail Business (OR) plans to increase its electric vehicle (EV) business by adding more charging stations in the nation’s shopping malls by the end of the year. Terminal 21, Fashion Island, and The Promenade are next in line to get the charging stations under the PluZ brand. Five more stations, two in Bangkok, two in Pattaya and…
- Technology News
Thailand agrees to fund Zinc-ion batteries for electric vehicles
A Thai tech executive director says Thailand’s government has agreed to fund 192 billion baht to asset finding for the development and production of zinc-ion batteries for electric vehicles. The executive director of the National Science and Technology Development Agency says the funding will go to the agency for the project. The Thai government has swung their full support around…
- Thailand News
Thai government pushes use of electric vehicles to reduce carbon emissions
The Thai government has approved a budget of 3 billion baht to subsidise the price of electric vehicles and has installed free-to-use EV charging stations at Benjakitti Park in Bangkok to promote the shift to a low carbon society. The spokesperson for the prime minister, Thanakorn Wangboonkongchan, announced today that PM Prayut Chan-o-cha aims to promote electric vehicles and make…
- Technology News
Global Electric Vehicle sales up 109% last year
In new research on the global electric vehicle market, Canalys estimates that 6.5 million electric vehicles (EVs) were sold worldwide in 2021, up 109% on 2020. EVs include fully electric and plug-in hybrid passenger cars. The total global car market grew just 4% in 2021 as it continued to struggle with Covid-19 restrictions and chip shortages. EV sales represented 9%…
- Transport News
Thailand’s electric vehicle market is underway, with commercial EV’s in focus
Thailand’s electric vehicle market is underway, with companies focusing on the commercial EV’s as a starting point. As many expect EV’s to be the future of the auto industry, many companies are now making the switch to renewable energy. One company that is trying to get ahead of the game, is that of Bangkok-based Energy Absolute. The biodiesel producer and…
- Thailand News
Tax to promote electric vehicles forecasted
Thailand is hopping on the electric vehicle bandwagon. An anonymous source within the Finance Ministry told the Bangkok Post that the Thai government is mulling over providing tax benefits aimed to encourage electric vehicles. This move is coming in the wake of recent promises by PM Prayut Chan-o-cha to increase Thailand’s focus on tackling climate change. The source told the…
- Transport News
Thailand aims for only electric vehicles by 2035
Thailand has announced an ambitious plan to move to only sell zero-emission electric vehicles by 2035 as it aims to be at the forefront of the electric car market. Right now in Thailand, less than 1% of the vehicles on the road are electric but an advisor to the Energy Ministry’s national policy committee said that it’s clear the world…
- Transport News
Thailand aims for 30% electric vehicle production by 2030
By 2030, Thailand aims to have 30% of car production to be electric vehicles in an effort to minimise air pollution as the air quality in a number of provinces in Thailand, especially Bangkok and Chiang Mai, has been at levels classified as unhealthy and even hazardous in reports by IQAir. Electric vehicles would include cars, motorbikes and buses. Industry…
