electric vehicle
- Thailand News
Thailand gets into gear as US-China tensions boost its economy
As the United States and China continue their economic tug-of-war, Thailand has ultimately emerged as an unexpected beneficiary on the global stage. The Southeast Asian nation is poised to become a formidable player in the electric vehicle (EV) industry, a development that could reshape the automotive landscape in the region and beyond. This revelation came to light during the 4th…
- Automotive
Most trending EV cars in Thailand
Thailand is rapidly becoming a significant player in the electric vehicle (EV) market, driven by government incentives, a growing charging infrastructure, and increasing consumer awareness of the environmental benefits of electric cars. As the country aims to transition towards sustainable transportation, several EV models have gained popularity among Thai consumers. This article explores the most trending EV cars in Thailand,…
- 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
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…
- Automotive
Thailand automotive sales in 2024
Thailand’s car market is all over the place in 2024. After a tough 2023 with a 9% drop in sales and a slow economy, there’s some hope. Toyota, for example, wants to boost sales by 4%, aiming for 277,000 units to keep its big market share. Electric cars (EVs) are the big thing. Even though the first quarter of 2023…
- Pattaya News
Pattaya’s electric scooter debate sparks charged safety talks
Electric scooters have become a hot topic in Pattaya, sparking discussions among various agencies and officials about their legality and safety. The legal status of these scooters is not straightforward in Thailand, with regulations varying by region. In cities like Bangkok and Chiang Mai, the rules can differ significantly. The primary concern lies in the absence of firm national rules…
- Thailand News
Thailand’s MRTA tests smart parking system for free
Bangkok motorists have the opportunity to utilise the Mass Rapid Transit Authority of Thailand’s (MRTA) innovative smart parking system free of charge during its testing phase. Starting yesterday, May 1, the Orange Line’s 10-storey Park’n’Ride facility on Ramkhamhaeng Road and a parking ground at the MRTA station on Rama IX Road are open for the public to test out. The…
- Automotive
Electric car sales to surge by 2024 despite economic challenges
The International Energy Agency (IEA) predicts a robust growth in the sales of electric cars in 2024, despite economic challenges in certain markets. Key driving factors for this surge include affordability and the development of charging infrastructure. The IEA estimates that electric car sales will reach 17 million this year, a boost from 14 million the previous year. This indicates…
- Automotive
Carzuno car subscription service: Why buy when you can subscribe?
Owning a car in Thailand without the long-term commitments, maintenance, and tedious paperwork… is it even possible? The answer is yes! The car subscription service by Carzuno offers a convenient way to get wheels in Thailand. Gone are the days when your only options were purchasing a vehicle (complete with hefty down payments and the responsibility for upkeep), dealing with…
- Business News
Thai EV market shifts into gear with Chinese investment
Major automobile companies are forecasting a rapid escalation in the Thai electric vehicle (EV) market, propelled by increased investment from Chinese EV manufacturers. This is anticipated to ignite a price war as manufacturers strive to lure consumers with competitive pricing. This viewpoint was shared by Narong Sritalayon, the managing director of Chinese automaker Great Wall Motor (GWM), in a statement…
- Business News
Charged up: Thai finance chief sparks debate on EV development
Thailand’s finance permanent secretary stressed the need for the country to continue developing its electric vehicle (EV) sector, despite concerns about the arrival of the Chinese EV supply chain in the local automobile industry. Lavaron Sangsnit warned that without active policies to encourage EVs, Thailand may be overlooked as a locale for factory establishment due to the lack of essential…
- Business News
Krungsri Auto predicts minimal growth in new auto loans despite EV boom
Krungsri Auto, Thailand’s leading auto loan provider, predicts a mere 0.4% increase in its new auto loans for 2024, despite the anticipated boom in electric vehicle (EV) sales at the upcoming 45th Bangkok International Motor Show. This forecast was shared by Congsin Congcar, the head of Krungsri Auto Group, after the company issued over 223 billion baht in new auto…
- Thailand News
Phang Nga’s lithium deposits eyed for Thailand’s EV ambitions
Phang Nga’s rich lithium deposits were the focal point of a House Committee on Industry visit yesterday, as the government looks to establish the area as a global lithium source. The move aligns with the government’s strategy to make Thailand an electronic vehicle (EV) manufacturing hub. Akkaradech Wongpitakroj, chairman of the House Committee and United Thai Nations MP for Ratchaburi,…
- Business News
Thai EV sales surge by 603% amid government incentives
Battery electric vehicles (BEVs) sales in Thailand surged by 603% year-on-year to 73,568 units last year, with the upward trend expected to continue throughout this year, as per the Federation of Thai Industries (FTI). This growth is expected to outstrip that of internal combustion engine (ICE) vehicles, which witnessed a 13.7% year-on-year sales decline to 238,570 units in 2023, capturing…
- Business News
Thai PM invites Aussie firms to invest in clean energy
During the 2024 ASEAN-Australia Special Summit, Srettha Thavisin, the Prime Minister of Thailand, extended an invitation to prominent Australian companies to invest in Thailand’s electric vehicle (EV) battery, clean energy, and transport logistics sectors. The summit, which marks five decades of Australia’s partnership with ASEAN, is being held in Melbourne, Australia. PM Srettha used this opportunity to meet with his…
- 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
BMW to establish first SE Asian EV battery factory in Thailand
BMW Group Thailand revealed plans to establish an electric vehicle (EV) battery factory in the country this year. This move is in response to China’s escalating EV investment and supply chains in Thailand. The factory, to be positioned in Rayong, will bolster the firm’s sales of battery EVs and plug-in hybrid EVs. The company’s president and CEO, Alexander Baraka, revealed…
- Business News
Thailand promotes electric trucks and buses with new incentives
The National Electric Vehicle Policy Committee in Thailand has given the green light for incentives aimed at encouraging companies to switch their commercial fleets of large trucks and buses to battery electric vehicles (BEVs). The committee has also approved cash grants for manufacturers of EV battery cells. The secretary-general of the Board of Investment and secretary of the Electric Vehicle…
- Business News
Thai banking industry faces hurdles amid high auto loan rejections
Last year’s robust profits from the Thai banking industry stirred debates, as critics pointed to excessively high interest rates. The sector witnessed a 17.8% surge in net interest income (NII) to 727 billion baht (US$20.2 billion) in 2023, up from 617 billion in 2022. The five biggest banks by assets contributed significantly to this rise with an increased net interest…
- Business News
Tesla’s South Korea sales slump amidst safety concerns, subsidy cuts
Tesla Inc’s sales in South Korea took a hit in January, with the company selling only one electric vehicle (EV) in the entire month. The Austin-based automaker faced a range of challenges, including safety concerns, pricing issues, and inadequate charging infrastructure. Data from the Korean trade ministry and Seoul-based researcher Carisyou revealed that the single sale of a Model Y…
- Business News
Thailand expects major rise in EV imports under new four-year plan
The director-general of the Excise Department projected a significant increase in electric vehicle (EV) imports, with an estimated 175,000 units expected to reach Thailand within two years. This comes as part of a four-year plan, EV3.5 (2024-27), which requires importers to establish a production base in the country from 2024-25 onwards, to replace imports with domestically produced EVs. The plan…
- Business News
Global car firms urge fair Thai EV promotion amidst competition fears
European, American, and South Korean automobile manufacturers are urging the Thai government to ensure its electric vehicle (EV) promotion policy benefits all EV makers evenly. This plea arises amidst growing concerns that Chinese and Japanese rivals might be enjoying an unfair advantage. Industry Minister Pimphattra Wichaikul revealed these countries are seeking enhanced support for their EV sales and automotive supply…
- 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…
- Automotive
The 5 best EV cars to buy in Thailand right now
More and more people in the world are ditching their fossil-fuelled cars and choosing to drive electric cars, also known as electric vehicles (EV), instead. And Thailand is no exception, with a growing market for EV cars in the country. The shift towards EV cars is an essential component of Thailand’s efforts to promote sustainable transportation and reduce greenhouse gas…
- Thailand News
Thai man’s test drive goes viral as EV’s AI says ‘I quit’
An amusing incident involving a young man test-driving an electric vehicle (EV) has gone viral on social media today. While attempting to command the vehicle’s artificial intelligence (AI) to lower the windows, the AI responded with the unexpected phrase, “I quit,” causing a wave of laughter across the online community. The story was shared by a user on Facebook’s EV…
- 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…
- Business News
Thailand shifts gears: Revving up both ICE and BEV vehicle production
The government of Thailand is pushing for a dual-track approach to vehicle manufacturing, fostering the production of both internal combustion engine (ICE) vehicles and battery electric vehicles (BEVs). Prime Minister Srettha Thavisin stated his desire for Thailand to be a significant centre of ICE production, even as the nation aims to become a hub for BEV manufacturing. He is due to…
- Thailand News
Thailand’s EV initiative: Driving towards a greener future
The Thai government has embarked on an ambitious plan to replace ageing government vehicles with electric vehicles (EVs), in line with their carbon neutrality goal set for 2050. The Thai EV initiative move was prompted by a notification issued by Prime Minister Srettha Thavisin, encouraging the use of EVs within the government sector. PM Srettha’s order, issued via the Secretariat…
- Business News
Charged up and rolling: GAC Aion sparks production of maiden battery EVs by June 2024
GAC Aion New Energy Automobile, the electric vehicle (EV) wing of Guangzhou Automobile Corporation (GAC), China’s second-largest EV purveyor, outlined plans to initiate the assembly of its maiden battery EVs by June 2024. The production is slated to occur at the brand’s nascent factory within the Eastern Economic Corridor (EEC). Gu Huinan, GAC Aion’s managing director, anticipates the assembly of…
- 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…
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