The arrival of Chinese auto manufacturers has surged with local electric vehicle production (EV), which has disrupted the Thai automobile industry.
This is the situation of “use with the old and new people”, which means that Thai consumers can benefit from the extended EV Price War (if you need an electric car), but the elderly car manufacturers who once dominated the industry, such as Toyota and other Japan The company is facing more stringent profits.
Industry experts told Reuters that the domestic automobile industry is already struggling to sell.
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Thailand is the largest electric vehicle market in Southeast Asia. It is expected that the sales of electric vehicles will increase by 40 % this year to more than 100,000 units. Last year, sales fell by 8 %. Essence Essence
The expected sales surge are largely due to a national incentive plan. The plan needs to produce 1.5 vehicles for each imported vehicle between 2022 and 2023, so that the company is eligible to obtain tax reduction and avoid high payment of high payment Fined fines.
The plan also includes a price subsidy of up to 150,000 baht ($ 4,400), helping to help Southeast Asia's second largest economy becoming the largest electric vehicle market in the region. Last year, new electric vehicles in the region lasted 70,000 new electric vehicles. Between 2022 and 2023, it imported about 84,000 EV.
The economy is slow, and the export of car has also dropped
Analysts said that it may now exacerbate the price competition of bruises in weak markets, because credit conditions have severe credit conditions and surge in family debt.
The Great Wall Motor in January reduced the price of its ORA good cat up to 270,000 baht, while GAC Aion lowered 166,000 baht up and down its Aion Y Plus price. Both are Chinese companies.
Tita PHEKANTH, a senior analyst of the Siam Commercial Bank (SCB) economic intelligence department, said: “The price war will be extended, aggressive and more extensive.”
Thailand is the main automobile production center in Asia, and about 60 % of the local manufacturing vehicle exports.
Investment committees (BOI), an anchoring incentive plan, changed some rules in December-expanded battery production timetables and provided incentive measures for hybrid power to reduce concerns of excessive supply and price war.
Boi head Narit Therdsterasukdi said that EV will also start exporting this year, which may relax overdue.
He said: “They are not limited to the right or left -handed drive.”
“Other markets like Indonesia also saw (China) Bit and Neita's investment,” said Hathaiwal Tungkaterakul, a senior researcher at Kasikornbank, said that the EV exports of these companies competed with EV exports of Thailand.
Due to weak demand at home and abroad, Thai automobile production has declined for the 17th consecutive month. Vehicle exports fell by 8.8 % in 2024, while domestic sales fell by 26 %, the lowest in 15 years.
A series of Chinese electric vehicle investment
Attracted by subsidies and tax incentives, it aims to convert 30 % of its annual car production to 30 % of electric vehicles. Thailand has long been dominated by Japanese companies for a long time. In recent years, a series of China Electric has been seen. Investment of cars.
According to EVAT, China's Bill Automobile (BYD), big cities and other people have dumped more than 10 billion baht ($ 3 billion) to the country.
Last year, Byd, Great Walto Motor, Changan and GAC Aion did not respond to Reuters' requirements to comment on their strategies.
Suroj, Evat's Evat. CP group.
Su Roy said: “This will be competitive.” He added that the local production vehicles were qualified to obtain subsidies only when they were sold this year, and government support will stop.
BYD has been reviewed by the government in order to eliminate a discount of up to 340,000 baht each time. Last year, consumers watched the door of the country cleared the country's largest electric vehicle seller illegal behavior.
- Jim Pollard's additional editor -in -law
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