EV
- 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…
- Thailand News
Thai lithium deposits outmatch global counterparts boosting EV production
A Thai geochemistry specialist recently confirmed that two primary lithium deposits located in Phang Nga hold an elevated concentration of lithium, surpassing many other significant deposits worldwide. This discovery reinforces the Thai government’s ambitious strategy to establish Thailand as a key producer of electric vehicles (EVs) and their components. The lithium sites in this southern province have been identified by…
- Business News
Thai industries foresee slow growth, tourism still below 2019 levels
The Federation of Thai Industries (FTI) anticipates sluggish growth for the steel and internal combustion engine (ICE) industries this year, whilst the tourism sector remains unlikely to reach 2019 levels. FTI chairman Kriengkrai Thiennukul emphasised the need for economic measures to support certain industries due to these projected declines. The steel and iron industry faces a slowdown as state construction…
- Business News
BYD challenges Tesla’s supremacy with record EV sales in Q4
Leading Chinese car manufacturer BYD reported selling 526,409 fully electric vehicles (EVs) in the fourth quarter, challenging Tesla’s global market leadership. According to a stock exchange filing, BYD’s sales, boosted by end-of-year discounting, hit 340,178 EV and hybrid units in December, including 190,754 all-electric models. Overall, BYD reported a 62% year-on-year increase in 2023, selling 3.01 million units. The Shenzhen-based…
- Thailand News
Thai BOI reveals game-changing green plan with 150 billion baht EV investment
The Board of Investment (BOI) of Thailand has declared its strategic vision for the next four years, placing a robust emphasis on the burgeoning sectors of bio, circular, and green (BCG) industries. Speaking passionately at the Go Thailand: Green Economy-Land Bridge forum in Bangkok, BOI secretary-general Narit Therdsteerasukdi highlighted the global trend towards sustainability in business operations. “From BOI’s roadshow…
- Business News
Thai industries shift from traditional car parts to electric vehicle components
A deal has been struck between the Federation of Thai Industries (FTI) and global car manufacturers to aid approximately 1,700 local auto parts manufacturers in transitioning from the production of traditional internal combustion engine (ICE) car parts to those for electric vehicles (EVs). Evolving global campaigns for zero-emission vehicles necessitate this shift. The FTI is facilitating collaborations between local manufacturers…
- Thailand News
Thai PM seeks Japanese investment in country’s EV industry
Thailand Prime Minister Srettha Thavisin is set to persuade top Japanese car manufacturers to invest in Thailand’s burgeoning electronic vehicle (EV) industry, boarded a plane to Japan yesterday. The visit, marking his first to Japan since his tenure as prime minister began, coincides with the 50 Years of the Asean-Japan Friendship and Cooperation Commemorative Summit. Accompanying the 61 year old…
- Business News
Electric dreams charge ahead: Aiming for a ‘shocking’ 359,000 EVs in the next year
Aiming for a substantial boost in their electric vehicle (EV) production, Thai authorities have set a target of 359,000 units for the coming year. This ambitious plan is supported by a 39.5 billion baht investment, as confirmed by industry insiders. The Office of Industrial Economics (OIE) is optimistic that the state’s EV policy, coupled with incentives for investment, will lead…
- Business News
High depreciation of EVs raises loan concerns says National Credit Bureau
The National Credit Bureau (NCB) raised concerns about the high depreciation rates of electric vehicles (EVs) and the associated loan risks. As the popularity of EVs, particularly Chinese brands, continues to rise, so does the volume of loans attributed to their purchase. However, EVs depreciate faster than traditional internal combustion engine (ICE) cars, which has heightened the risk for auto…
- Business News
Thailand’s EV policies and tech partnerships attract foreign investors
The Federation of Thai Industries (FTI) has projected that Thailand will become increasingly appealing to foreign investors, backed by distinct government policies encouraging investment. Prime Minister Srettha Thavisin recently endorsed a policy designed to stimulate Electric Vehicle (EV) production and consumption between 2024 and 2027. This incentive package, known as EV 3.5, is expected to be a significant determinant in…
- 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…
- Business News
Thai auto market anticipates price war as Chinese EVs flood in
The Thai auto market is bracing for a potential price war as the influx of affordable electric vehicles (EVs), mainly from China, threatens the traditional dominance of internal combustion engine (ICE) vehicles. Over the next few years, the competition is set to escalate as two to three Chinese automakers plan to roll out their EVs in Thailand, capitalising on the…
- Business News
Thai EV stocks to soar with renewed government support measures
Electric vehicle (EV) and battery manufacturing-related stocks are predicted to gain from the upcoming renewal of EV support measures by the government next year, according to Asia Plus Securities (ASPS). The EV Policy Committee will convene today, with new support measures for electric cars and pickups being anticipated. These measures are expected to adjust the subsidy to fall between 50,000…
- 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
Thailand’s first locally made portable EV charger launched by Anitech
Smart ID Group, renowned for manufacturing electronic devices under the Anitech brand, has unveiled Thailand’s first locally produced portable electric vehicle (EV) charger. The product, dubbed Anitech EV-One, is a high-quality offering that has achieved Thai Industrial Standards certification. The launch capitalises on the firm’s 18 years of track record in the consumer electronics sector, according to Thomas Hongpakdee, the…
- Thailand News
Thai EV Club member sparks a ‘charged’ frenzy with Bangkok station surprise
A conversation in the EV Club Thailand Group on Facebook has gone viral, after one of its members, known as Penguin1, shared photos of four cars parked in an electric vehicle (EV) charging station. All four cars were seen plugged into the charging stations, with a message from Penguin1 stating, “All four cars at the ‘charging station’ in Ladprao, Bangkok,…
- Business News
Energy Absolute sees a revenue soar due to EV demand and battery sales
The Stock Exchange of Thailand (SET)-listed renewable energy and electric vehicle (EV) developer and operator, Energy Absolute (EA), is set to record a significant surge in its total revenue. This year’s revenue is projected to exceed 41 billion baht, a substantial leap from last year’s 27.5 billion baht. This surge can be attributed to the burgeoning demand for commercial EVs…
- Thailand News
Thai Smile Bus electrifies its fleet with a shocking 1,083 EVs
Thai Smile Bus, a leading public transportation company utilising clean energy, plans to introduce an additional 1,083 electric buses (EV) to its fleet by next year, according to the company’s CEO, Kulapatsorn Wongmajarabhin. This initiative is part of the company’s ongoing commitment over the past two years to develop environmentally friendly public transportation and reduce PM2.5 dust pollution in urban…
- Business News
Chery’s EV dreams charge ahead in Thailand: BoI blessings pending
China‘s Chery International, through its subsidiary Omoda & Jaecoo International Co, intends to establish an electric vehicle (EV) production facility in Thailand, pending Board of Investment (BoI) privileges. Qi Jie, Thailand’s national director at Omoda & Jaecoo International, will unveil detailed investment and business plans in the coming months. Chery, one of China’s top vehicle manufacturers, plans to introduce two…
- Business News
GAC to invest 6bn baht in Thai EV and battery factories
Guangzhou Automobile Corporation (GAC), China’s second-largest electric vehicle (EV) seller, is set to invest 6 billion baht in the construction of EV and battery factories in Thailand over the next three to five years. The move will transform the country into a key production and export base for the firm. Ocean Ma, who oversees the company’s subsidiaries, Aion Automobile Manufacturing…
- World News
Electrifying growth: Sprouting EV projects spark green revolution in Southeast Asia
In a robust move towards a greener future, new Electric Vehicle (EV) projects are sprouting across Southeast Asia, signalling a collaborative endeavour between multiple corporations and academic institutions. The initiatives are set to deliver significant enhancements to EV infrastructure, comprehensive research, and expanded workforces. At the forefront is Evolt Technology, a firm specialising in EV charging services. The company has…
- World News
Indonesia urged to emulate Thailand’s EV dominance
A prominent business executive, known for his roles as president of the ASEAN Business Advisory Council (ASEAN-BAC) and the chairman of the Indonesian Chamber of Commerce and Industry (Kadin), advocates cooperative efforts between Thailand and Indonesia to establish a robust and resilient supply chain within Southeast Asia that caters to the global EV market. In the early part of this…
- Business News
Trade war triggers fear of new EV chip shortage from China export limit
Leading authorities in the industry fear another chip shortage could soon hit electric vehicle (EV) manufacturers. This comes as China limits the export of two significant metals, a move driven by the ongoing trade dispute between Washington and Beijing, as reported by the Federation of Thai Industries (FTI). As of August 1, China will impose trade restrictions on select products…
- Business News
Thailand’s foreign direct investment skyrockets with focus on EV industry
Investment attraction to Thailand has seen a remarkable surge in the first half of this year. The nation registered a 70% year-on-year increase to an impressive 364 billion baht, according to the Board of Investment (BoI). This boost, particularly contributed by an astonishing 141% soar in foreign direct investment, serves as a testament to Thailand’s status as a preferred manufacturing…
- 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…
- Politics News
PM Prayut drives electric car with Swiss ambassador
After completing her term in Thailand, Helene Budliger Artierda, the Swiss ambassador, paid a farewell visit to Thai PM Prayut Chan-o-cha at Government House. Helene came to visit Prayut in an electric-powered red Mini Cooper, which caught the PM’s attention during their conversation. Just before the Swiss ambassador could head back to the embassy, Prayut asked about the car. He…
- 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…
- Thailand News
Thailand ups electric vehicle incentives, after 30% spike in foreign direct investment
Thailand Board of Investment has approved revised conditions and incentives for investing in electric vehicles and the infrastructure needed to support them, specifically charging stations. Today’s BOI announcement comes as Thailand increases its incentives for people to buy and invest in electric vehicles, in an effort to maintain its grip on Southeast Asia’s car manufacturing market, which is transitioning to…
- 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%…
- World News
Asia News Today | Hong Kong’s healthcare overwhelmed by Covid infections
Hong Kong’s healthcare is being overwhelmed by a big surge in new Covid infections. Patients showing symptoms are now having to be treated outside the crowded hospitals. The government admits it is struggling to contain wave of Omicron infections, but is ruling out a Hong Kong-wide lockdown. A record 4,285 new infections were reported yesterday in the special administrative region…
