Thailand's EV subsidy scheme under ASEAN-China FTA leads to oversupply of Chinese EVs, affecting local auto market and supply chains; govt supports EVs, offers incentives to hybrid vehicles.
Thailand's EV subsidy scheme under ASEAN-China Free Trade Agreement leads to 90,000+ imported Chinese EV oversupply, hurting domestic auto market, local supply chains, and traditional automakers. The Thai govt still supports EVs despite consequences. To balance, Thailand offers incentives to hybrid vehicle manufacturers, aiming to attract $1.53bn investments and support its long-term environmental goals.
July 29, 2024
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