News Formal

COVID-19, electric vehicles to reshape Thailand’s auto industry

  • 📰 staronline
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 75%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

BANGKOK: The COVID-19 pandemic is accelerating the remaking of Thailand's automotive industry, the backbone of Southeast Asia's auto sector, as factory shutdowns compound a shift toward electric vehicles.

Thailand's auto-related businesses, which employ 900,000, are reopening after months of coronavirus shutdowns, promising relief for many laid-off workers.

"We are all worried... this is a sunset industry," said Kasem Tiankanon, manager at Siam Filter Products Ltd. The coronavirus damage to car demand will crush Thailand's output by almost half to 1.14 million vehicles this year, research firm IHS Markit forecasts. Truck-chassis maker Sammitr Group last month received approval for a $170 million project to make 30,000 battery-power vehicles a year in a joint venture with a Chinese company.received approval for investments worth a combined $888 million to produce hybrid electric vehicles and batteries.

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:

 /  🏆 4. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Covid-19 cost tourism industry RM45 billion in losses till JuneKUALA LUMPUR: The Covid-19 pandemic cost the tourism industry some RM45 billion in losses until June this year, Tourism, Arts and Culture Minister Dat...
Source: theSundaily - 🏆 25. / 51 Read more »