Thailand's EV makers seek to renegotiate govt incentives as sales slow

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As sales of electric vehicles (EVs) miss expectations in Southeast Asia's largest market, Thailand's main group of manufacturers, comprising large Chinese and Japanese firms, seeks to extend production deadlines set in a government scheme of incentives.

Already among Asia's highest, Thailand's average household debt has risen to a record, thanks to slow economic growth, lower incomes and high living costs, a survey showed on Tuesday.

They reflect broader weakness in the Thai auto industry, where car production contracted 17.28% in the first seven months of 2024 from a year earlier to stand at 886,069.

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Article Details

Category: EconomyBusiness

Markets: ThailandBrazilChinaJapan

Topics: Scheme Chinese Suroj Vehicles Sales Vehicle Year Electric Thailand Motor Production

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-11 @ 12:02:00 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 640 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 22455470

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Official Website: bangkokpost.com

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