Electric shock -- Chinese EV makers steal a march on rivals in lucrative Thai market

  • 📰 WashTimes
  • ⏱ Reading Time:
  • 46 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 36%
  • Publisher: 63%

B Business Finance News

B China,B Thailand,B Bangkok

In a country that has long billed itself as the 'Detroit of Asia,' Thailand's new generation of Henry Fords are coming from a very different place.

Chinese tourists takes selfies with Thailand’s Prime Minister Srettha Thavisin, right, at Suvarnabhumi International Airport in Samut Prakarn province, Thailand, Monday, Sept. 25, 2023. , which has hosted a thriving carmaking industry for decades and is Southeast Asia’s largest vehicle manufacturer and exporter, could provide an early taste of the global shift in power in a key strategic industry.

Chinese EVs are estimated to claim about 80% of the domestic market here, and the three most popular brands also hail from. Including all makes and models, Chinese carmakers took about 11% of the Thai domestic market overall last year, cutting into the longtime grip held by, which has been slower than many of its rivals to embrace EVs, remained the market leader, but its share of the Thai new auto sales market fell 8 percentage points to 34% in 2023.

EV motorcycles, three-wheel scooters, and public buses may prove more popular within cities where recharging by simply swapping in new charged batteries is easier and faster. Chinese EV companies are also extending their reach by teaming up with local Thai partners, many strategically chosen.’s largest private company and the largest privately held Royal Warrant holder of the Thai Royal Family, to market its MG brand EVs in the country.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 235. in BUSİNESS

Business Business Latest News, Business Business Headlines