EV
- 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…
- Thailand News
Road rage: Electric car and box truck crash in Thailand goes viral (video)
A road rage incident involving an Ora Goodcat electric vehicle and a box truck on a Thai road has grabbed significant attention online. TikTok user @first_thepeak shared a dramatic clip of the encounter, showing the box truck attempting to block and force the electric car off the road. The situation escalated until the truck spun out of control and came…
- Transport News
Charged up: Thailand greenlights 7.12 billion baht EV subsidy
The Thai Cabinet has sanctioned the allocation of 7.12 billion baht (US$218 million) from the central reserve budget to support the electric vehicle (EV) subsidy program. This decision was announced following the weekly Cabinet meeting yesterday, September 24. Jirayu Huangsab, an advisor to the prime minister, confirmed that the allocated budget will subsidise buyers of EVs and motorcycles who have already…
- Automotive
The future of electric vehicles in Thailand
As of 2024, Thailand has approximately 150,000 electric vehicles (EVs) on the road. This figure reflects a significant increase from previous years, driven by government incentives and a growing consumer preference for sustainable transportation. The Thai government aims for 30% of all vehicles produced in the country to be electric by 2030, further encouraging the adoption of EVs. The rise…
- 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…
- Transport News
Ford Thailand urges support for ICE car sector amid EV rise
Ford Thailand is urging the government to extend support to companies in the internal combustion engine (ICE) car segment, particularly motorcycle manufacturers, who are struggling to adapt to the rapid expansion of the electric vehicle (EV) market. Despite the implementation of measures such as tax cuts and subsidies to promote the EV industry, ICE sector operators have yet to see…
- Thailand News
Japan urges ASEAN to prioritise hybrids over EVs for sustainability
Japan advocates for hybrid vehicles as an effective path for the Association of Southeast Asian Nations (ASEAN) to reach sustainable development goals. During the Economic Security and Supply Chains seminar, Yasuyuki Todo from the Faculty of Political Science and Economics at Waseda University cautioned ASEAN about over-relying on the electric vehicle (EV) industry. He pointed out that since Asean mainly…
- Business News
Charged up: GAC Aion plugs into Thailand’s booming EV market
GAC Aion New Energy Automobile, an electric vehicle (EV) manufacturer under Guangzhou Automobile Corporation (GAC), anticipates substantial benefits from the ongoing expansion of Thailand’s EV market. This comes after the recent inauguration of a 2.3-billion-baht EV assembly plant in Rayong. The company aims to produce up to 70,000 EVs annually for both domestic sales and export, according to Ma Haiyang,…
- Business News
Thailand woos Saudi investors with EV sector opportunities
Thai officials are set to attract Saudi Arabian entrepreneurs to invest in Thailand’s S-curve industries, particularly following their interest in the electric vehicle (EV) sector. Efforts to promote Thailand to potential investors will take place during a roadshow in Saudi Arabia, while also supporting Thai businesses aiming to expand into the Middle East, according to Narit Therdsteerasukdi, Secretary-General of the…
- Thailand News
GAC AION charges ahead in Thailand with new EV hub in Rayong
China’s 4th-largest electric vehicle (EV) manufacturer, GAC AION New Energy Automobile, is gearing up to revolutionise Thailand’s automotive landscape with the inauguration of a state-of-the-art manufacturing facility in Rayong’s Eastern Economic Corridor (EEC) on July 17. Industry Minister Pimphattra Wichaikul announced that the cutting-edge plant, costing a staggering 2.3 billion baht, is poised to kick off operations by November. Boasting…
- Thailand News
Thai government seeks 7 billion baht for EV subsidies
The Thai government plans to request an additional 7 billion baht in funding to support the promotion of electric vehicles (EVs). This effort aims to subsidise 35,000 EVs, with expectations for EV production facilities to compensate with 80,000 to 90,000 units in the first year. Over 30 automotive companies are participating in the initiative. The Excise Department proposed a budget…
- 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
Euro EV sales dip but Thai operators charge ahead with optimism
Despite a recent 11% drop in electric vehicle (EV) sales in Europe, Thai business operators remain optimistic about local EV market growth. They believe that the circumstances in Thailand significantly differ from those in Europe, making direct comparisons of the two markets inappropriate. The European EV market downturn, says Bloomberg, is attributed to factors such as high insurance and repair…
- Business News
Hyundai’s electrifying dismay: Thailand EV sales spark low
Hyundai Mobility Thailand, the Korean automaker’s subsidiary, warns that this year’s electric vehicle (EV) sales in Thailand may fall short of the predicted 130,000 units. The company cites an ongoing price war amongst Chinese EV manufacturers as the primary obstacle, leading to unstable car prices and discouraging potential buyers. The managing director of Hyundai Mobility Thailand, Wallop Chalermvongsavej, noted the…
- Business News
Thailand likely to house major EV battery factory within two years
The Board of Investment (BoI) anticipates the establishment of a substantial facility for the manufacturing of battery cells for electric vehicles (EVs) in Thailand within a two-year timeframe. This projection follows a promotional roadshow conducted by the BoI in China just last week. Narit Therdsteerasukdi, the BoI Secretary-General, explained that this roadshow emphasised the benefits and incentives being offered to…
- Business News
Chinese firms eye EV supply chain in Thailand’s Smart Park
Chinese companies have shown keen interest in the EV supply chain and energy sectors of the Smart Park Industrial Estate, situated in Rayong, Thailand. This industrial estate is due to open by the end of the current year, according to the Industrial Estate Authority of Thailand (IEAT). The companies aim to establish factories manufacturing EV components to cater to the…
- 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
EA plans expansion in renewable power and EV sector
Renewable energy and electric vehicle (EV) developer, Energy Absolute Plc (EA), is set to expand its power business. The decision comes after a pause in the introduction of new projects since 2019. Currently, the firm’s wind and solar farms generate a capacity of 664 megawatts. The company’s CEO, Somphote Ahunai, noted in a 2020 interview that EA diversified into EV-related…
- Thailand News
BMTA set to go green with 3,390 electric buses
Bangkok Mass Transit Authority (BMTA) embarks on an initiative to replace its ageing fleet with 3,390 electric buses, announced Deputy Transport Minister Manaporn Charoensri. During a recent board meeting, it was revealed that the BMTA has prioritised the urgent acquisition of new electric buses, aligning with its commitment to mitigate environmental impact across the metropolitan area. Manaporn, overseeing the BMTA,…
- 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
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…
- Automotive
Watts up with EVs? Decoding consumer attitudes
Electric vehicles (EVs) are rapidly carving out a niche in Thailand’s automotive landscape, spurred by a growing awareness of environmental concerns and the urgent need to slash greenhouse gas emissions. As traditional combustion engines increasingly fall out of favour, EVs are stepping up as the green alternative, promising a cleaner, more sustainable future on the roads. Consumer attitudes towards EVs…
- 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 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…
- Business News
New EV incentives boost investment in Thai automotive sector
The Federation of Thai Industries (FTI) expressed confidence in the transformative potential of the new electric vehicle (EV) incentive packages, anticipating a significant boost to investment in the automotive sector and related businesses. As Thailand strives for sustainable economic growth and enhanced competitiveness, surges in investment are vital, particularly in the targeted S-curve industries encompassing next-generation vehicles. Surapong Paisitpatanapong, the…
- Business News
Thailand incentivises companies to go green with EV conversion
The Thailand government confirmed yesterday that measures have been approved to encourage companies to convert their commercial fleets of large trucks and buses to battery electric vehicles (EVs). This move aims to increase the adoption of EVs and support companies in achieving their net-zero targets. In addition, cash grants will be provided for EV battery cell manufacturers. These policies are…
- Transport News
Automakers’ ties to forced labour in China under scrutiny, says HRW report
Five prominent automakers, including Toyota, General Motors, Volkswagen, Tesla, and China’s BYD, have questionable ties to forced labour in China’s Xinjiang region, as identified by a report by Human Rights Watch (HRW). Xinjiang, an important aluminium producer contributing to approximately 9% of the global supply, has been linked to state-sponsored labour transfer programs accused of coercing Muslim minorities into forced…
- Business News
Revving up: Thailand’s car production to rise by 3.17% in 2024, predicts FTI
The Federation of Thai Industries (FTI) predicted a 3.17% rise in Thailand’s car production this year, reaching an estimated total of 1.9 million units. This projection comes despite the less-than-anticipated total car production of 1.84 million units last year, falling short of the 1.85 million units target. According to Surapong Paisitpatanapong, Vice-Chairman and spokesperson for the FTI’s Automotive Industry Club,…
- Thailand News
Thailand unearths lithium and sodium, amps up as EV battery hub
Thailand discovered two significant deposits of lithium and sodium, key ingredients for electric vehicle (EV) battery production, marking the country’s stride towards becoming a central and primary production base in the region. Radklao Inthawong Suwankiri, the Deputy Spokesperson for the Prime Minister’s Office, revealed that the Ministry of Industry’s expedited exploration led to the discovery of the lithium mines, known…
- Business News
Thailand’s EV sales projected to double by year-end
Thailand is set to witness a significant spark in electric vehicle (EV) sales, potentially doubling the figures by year-end, driven by Chinese manufacturers and approximately US$2.4 billion in government incentives, bolstering consumer demand. Krisda Utamote, Electric Vehicle Association of Thailand President, forecasted that new battery EV registrations might exceed 150,000 by the year’s end in a recent interview in Bangkok.…
