Manufacturing
- Business News
Honda to cease productions in Ayutthaya by 2025, EV competition
Honda Motor will cease vehicle production at its Ayutthaya factory by 2025, redirecting its efforts to consolidate operations at the Prachin Buri plant, the company announced today, July 9. This strategic shift underscores the increasing challenges Japan’s second-largest automaker faces in Southeast Asia, as Chinese brands aggressively vie for market share in Thailand amidst rising consumer interest in electric vehicles…
- Thailand News
Thai car plant sparks uproar with mass layoff of subcontractors
A major Thai car manufacturer in Laem Chabang Industrial Estate in Sri Racha, Chon Buri, has abruptly laid off all its subcontracted employees, leaving many workers devastated and prompting an outpouring of support online. The news emerged after a Facebook user shared the story in the group A1หางาน อีสเทิร์นฯ เหมราช ปลวกแดง บ่อวิน อมตะซิตี้ V.2 (A1 Job Hunting Eastern Hemaraj Pluak…
- Business News
Thailand amps up EV efforts to recharge used battery market
Thailand is intensifying its efforts to boost the electric vehicle (EV) supply chain with new investment incentives targeted at the repair and refurbishment of used EV batteries, according to the Board of Investment (BoI). The BoI introduced a new investment promotion category for service centres specialising in the repair, repacking, and reuse of used EV batteries. This initiative is part…
- 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
Thailand’s manufacturing sector hit by surge in factory closures
A surge in factory closures has heightened concerns over the weakening of Thailand’s manufacturing sector, as indicated by Kiatnakin Phatra Financial Group (KKP). KKP Research revealed that Thailand’s manufacturing production index experienced a decline over a 15-month span from December 2022 to March 2024, despite a global trade recovery commencing late last year. Thailand has seen an increase in factory…
- Business News
Thai car production drops 11.02% in April amid long holidays
Car production in Thailand experienced a significant decline of 11.02% in April from the previous year, with total units produced amounting to 104,667, according to the Federation of Thai Industries (FTI). This decrease follows a more substantial drop of 23.08% year-on-year in March. The FTI attributed April’s reduced production figures to long holidays during the month. For the January to…
- Business News
US imposes major tariffs on Chinese EVs and semiconductors
The United States recently imposed substantial tariffs on Chinese products, focusing particularly on electric vehicles (EVs) and semiconductors. This move is expected to push China to expand its EV manufacturing within Asia, with Thailand emerging as a significant export hub, according to the Federation of Thai Industries (FTI). President Joe Biden’s administration cited Beijing’s unfair trade practices as the reason for…
- Thailand News
Lamborghini to debut electric supercar in Thailand by 2028
Automobili Lamborghini, the renowned Italian luxury sports car manufacturer, plans to introduce its new electric supercar to Thailand, with a global debut slated for 2028. This initiative is part of the company’s broader strategy to reduce carbon dioxide emissions. For years, Lamborghini has been actively developing electric vehicle (EV) technology to support its goal of achieving carbon neutrality, according to…
- 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
Manufacturing production index drops by 5.13% in March
Continuing its downward trend for the 18th month in a row, the manufacturing production index experienced a 5.13% drop in March compared to the same period last year, according to an Industry Ministry report. This decline, which is more severe than analysts’ predictions, is attributed to a slowdown in automobile production, a decrease in exports, and increasing household debt. Analysts…
- Business News
Manufacturing production index dips in Thailand amid economic challenges
The Office of Industrial Economics (OIE) has reported a 2.94% year-on-year dip in the Manufacturing Production Index (MPI), falling to 99.2 points in January. This downturn is largely attributed to a range of economic challenges, most notably the highest level of car seizures in half a decade. The domestic automotive industry’s stagnation was a significant contributor to January’s MPI decline,…
- Business News
Thailand’s manufacturing sector sees slump for 16th month
Thailand’s manufacturing sector witnessed a prolonged slump for the 16th month in January, as the country’s key economic pillar grapples with dwindling domestic and overseas motor vehicle sales, according to information released by the Industry Ministry. The year-on-year decline of 2.94% in the sector fell short of the anticipated 5.1% fall predicted in a Reuters survey and followed a revised…
- 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…
- Business News
Thailand’s manufacturing sector set to rebound by 2024 despite 2023 contraction
Despite the economic slowdown causing a 5.1% contraction in Thailand’s Manufacturing Production Index (MPI) last year, it is expected to rebound in 2024. The forecasted improvement comes in response to an increase in the export of industrial products, which grew by 3.22% in December, marking the third consecutive month of growth, according to Warawan Chitaroon, the director-general of the Office…
- Business News
Thailand’s manufacturing production sees steep fall due to car output drop
The Industry Ministry reported a year-on-year fall of 6.27% in Thailand’s manufacturing production index for December, attributed to a downturn in car production. This figure was notably steeper than the anticipated 3.2% decrease, according to a Reuters poll. This followed the 4.71% drop in November, rounding out a year in which overall output shrank by 5.11%. In addition to the…
- Thailand News
Thai industries battle tide of cheap imports: Government gears up for tough measures
In a bid to rescue Thailand‘s floundering manufacturing sector, the Thai government is gearing up for a fierce showdown against a deluge of low-priced imports that threaten to drown local industries. The Commerce Ministry’s crackdown, aimed primarily at products flooding in from China, promises to safeguard Thai manufacturers from the relentless assault on their market share. Thailand’s industrial output has…
- Business News
Thai MPI faces contraction amid global conflicts and tourism slump
The Office of Industrial Economics (OIE) anticipates a contraction between 4% to 4.5% in the Thai Manufacturing Production Index (MPI) this year due to less-than-projected tourism growth and geopolitical conflicts impacting the global economy. In contrast, the MPI was projected to shrink by 2.8% to 3.8% in July. The OIE further predicts a contraction of 2.5% to 3% in the…
- Business News
Thai motorcycle production makers ready to ‘gear’ up as sales pick up speed
The Federation of Thai Industries (FTI) anticipates a surge in Thai motorcycle manufacturing during this year’s final quarter, following a period of slow sales. This optimistic forecast was made earlier this year by the FTI’s Automotive Industry Club (AIC), based on an uptick in tourism and the easing of the semiconductor shortage. July saw a 12.7% year-on-year increase in local…
- Business News
Shock and recharge: Thailand’s EV sector hopes for spark
The Electric Vehicle Association of Thailand (EVAT) expects greater manufacturer interest in Thailand’s EV sector. The latest incentive package might be less appealing than earlier ones. Current incentives consist of tax reductions and subsidies for car producers and importers. These incentives aim to boost EV production and consumption from 2022 to 2023. The incentives range from 70,000 to 150,000 baht…
- Business News
Boeing halts 787 Dreamliner deliveries again due to manufacturing issue
Boeing announced on June 6 that the delivery of its 787 Dreamliner aircraft has once again been delayed due to a manufacturing issue. This is the latest in a series of setbacks that have affected the two-aisle jet. The company stated that it is currently inspecting fittings on the horizontal stabiliser, a part of the tail, for a “nonconforming condition.”…
- Business News
Thailand’s MPI growth faces stagnation amid export slowdown and high costs
The Manufacturing Production Index (MPI) in Thailand is predicted to experience subdued growth of 0-1% this year, owing to a combination of domestic and international business challenges. The April MPI reading was the lowest in 34 months, with an 8.14% year-on-year drop to 83.5 points, marking the seventh consecutive decline since October last year, according to the Office of Industrial…
- Thailand News
Thai noodle price crisis averted
After some local media outlets reported that noodle prices will rise soon, Thai trade officials claim this isn’t true. The director-general of Thailand’s International Trade Department told the Bangkok Post the department has not yet approved any manufacturers raising their prices. The director-general said the department regularly speaks to instant noodle manufacturers. He said manufacturers who want to raise prices…
- Economy News
Ford factories in Thailand to receive a US $900 million upgrade
In an announcement today, Ford Motor Company committed to investing US $900 million – about 30 billion baht – to upgrade their factories in Thailand. The American car manufacturer vowed to modernise its production plants in Thailand that support the building of the Everest SUV and Ranger pickup truck. The 30 billion baht is the biggest single investment that Ford…
- Thailand News
Thai industrial gas producers expect higher sales
The largest industrial gas producer in Thailand is encouraged by signs that business is getting back to normal. Bangkok Industrial Gas (BIG) reported that demand dropped significantly during the Covid-19 pandemic. But now the company says that sales are even higher than they were pre-Covid. BIG estimates that its sales next year will grow by 5-6%, reports the Bangkok Post.…
- Economy News
Thailand’s manufacturing production highest in 23 months
After 2 years of falling, largely affected by the Covid-19 pandemic, Thailand’s manufacturing production index has grown for the first time in 23 months. The index, which measures manufacturing activity, hit 107.73 last month, which is the highest it has been since April of 2019. With a growth of 4.12% in the last year, the index had its strongest performance…
- Covid-19 News
China’s economy expected to grow 1.6% in 2020 – World Bank
Much the world is currently seeing continuing surges of new Covid-19 cases, some countries are well into their 2nd wave. Meanwhile China is quietly getting it’s industrial engine and economy going again as new cases. In fact China’s number of ‘active cases’ has been dropping since April, and now is fewer than 200 total cases across the country. Along with…
- Expats
Expat shift drives changes in Bangkok’s condo market
Thailand’s dominant working expat nationality in past decades has been Japanese, currently making up 18% of expatriates in the country. But, while Japanese expatriate numbers are decreasing, a CBRE report notes that Chinese and Filipinos are on the rise. There were 28,560 Japanese expats in Thailand as of Q3 2020, just ahead of the Chinese expat contingent at 25,811. As China’s manufacturing has…
- Tourism News
A new flaw detected on Boeing’s 787 as company’s problems mount
The problems at Boeing are starting to stack up, at a time when few airlines are ordering new planes and going through their current orders to see which order they can cancel. Boeing has now disclosed another problem with the construction of its 787 Dreamliner aircraft that could cause further delays on aircraft deliveries, and provide another headache for the…
- Economy News
Thai carmakers slash production by 50% in 2020
The Covid-19 pandemic could cut Thailand’s automobile production by up to 50%, according to the Federation of Thai Industries. Thailand is the eleventh biggest carmaker in the world, producing more than 2 million cars last year. The FTI now expects only half that in 2020. FTI automobile club’s spokesman club’s spokesperson was speaking to Thai Enquirer: “If the outbreak is…
- Business News
Business recovery in the Covid-19 era
As some countries begin to tentatively look to reboot their economies in a Covid-19 world, what does the future hold for business? Nation Thailand reports today on an extensive Bank of Thailand survey that examined the impact of the pandemic on four business sectors and what might happen next. Things are looking a bit brighter for the manufacturing and retail…
