It isn't just in Europe and the U.S. where the EV industry is seeing jolting effects of Chinese EVs entering their respective markets. It looks like the industry in Thailand has accidentally also set off chaos in their home market by offering subsidies to Chinese EV makers, a move that Nikkei Asia reports is 'wreaking havoc' in Thailand.
President Krisda Utamote, noting more Chinese EV makers are now investing in Thai production, said 'We are experiencing an EV oversupply as plenty of EVs imported from China over the past two years inventories.
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