, Singapore
3 views

New incentives to cement Thailand as EV production hub

Incentives will drive renewed interest from automakers.

The decision of Thailand’s Board of Investment (BOI) to approve additional incentives to attract automakers for electric vehicle (EV) production will continue to cement the country’s position as EV production hub, according to an outlook by Fitch Solutions.

The new package of incentives includes a full range of vehicle types and incentives for battery module and battery cell production, as well as the extension of critical EV automotive parts as part of the package.

With Thailand as the largest and most developed EV market in the South East Asia region, incentives will drive renewed interest from automakers and component manufacturers alike as a large domestic electric vehicle market remains a crucial element in attracting investments in EV production.

Fitch Solutions has also highlighted the lack of consumer-focused incentives for the purchase of EVs and an inadequate public charging infrastructure as missing links in further driving the adoption of EVs in the country.

Addressing the mentioned shortcomings will allow Thailand’s 30% EV production target to be more feasible.

Thailand currently ranks as the second most attractive market for automotive production in the Asia region with an overall score of 69.5.
 

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Singapore Business Review in your inbox
Approximately 35% of MSEs in the F&B and retail sectors saw their earnings drop by more than half during the Phase 2 Heightened Alert period, according to a DBS survey.
Enterprise Singapore extends the programme that supports food and beverage businesses in providing food delivery services.
The Baht 40b debentures were 1.52 times oversubscribed. Thai Beverage issued Baht 40b (approximately $1.7b) debentures. In a disclosure to the Singapore Exchange, the firm announced that the issuance was 1.52 times oversubscribed. The debentures have an average annual cupon rate of 1.95%, with an average tenor of 4.10 years. Proceeds from the debentures would go to repayment of a bridging loan facility that would mature in March 2023. The debentures have been assigned an “AA (tha)” rating, which is considered investment grade by Fitch Ratings (Thailand) Limited. Bangkok Bank Public Company Limited, KASIKORNBANK Public Company Limited, Krung Thai Bank Public Company Limited, Bank of Ayudhya Public Company Limited, The Siam Commercial Bank Public Company Limited and Kiatnakin Phatra Securities Public Company Limited are the joint lead arrangers of the issuance.
The fund was announced at the inaugural CapitaLand Sustainability X Challenge.
Mapletree Logistics Trust saw the sharpest decline during Friday's trading, with a 0.99% drop.
This may be one of the last times the troubled water treatment firm could meet with securities holders before shutting down.
The company has been listed in the Catalist board of SGX since 2017.
RHB revised their forecast up from 0-3%. 
The Singapore-Hong Kong air travel bubble has been pushed back again.
Only 21% of Singaporean business leaders said that they were familiar with 5G technology, a Qualcomm study said.
The 27 listed individuals include policymakers, visionaries and entrepreneurs.
This is much higher than US$85.01m recorded in the same quarter last year.
The switch to solar is expected to result in cost-savings up to $3.1m for the project duration of 20 years.
The bank will test the feature with retail and corporate clients for 12 months.
The package aims to help previously unqualified SMEs to enter the digital market.