Showing 1 - 10 of 83
Auto sector reels from falling orders, soaring household debt
Reuters, Published on 25/09/2024
» Thailand's US$53 billion automobile industry is facing a grim future as highly indebted domestic consumers struggle to finance purchases and overseas buyers of its mainstay traditional vehicles increasingly switch to electric alternatives.
Thailand's EV makers seek to renegotiate govt incentives as sales slow
Reuters, Published on 11/09/2024
» As sales of electric vehicles (EVs) miss expectations in Southeast Asia's largest market, Thailand's main group of manufacturers, comprising large Chinese and Japanese firms, seeks to extend production deadlines set in a government scheme of incentives.
Hyundai to invest $28m in Thailand for EV assembly, batteries
Reuters, Published on 07/08/2024
» South Korean auto maker Hyundai Motor Company will invest 1 billion baht (US$28 million) to set up a facility to assemble electric vehicles (EVs) and batteries in Thailand, the country's Board of Investment (BOI) said on Wednesday.
Somalia beach attack kills 32 civilians
Reuters, Published on 03/08/2024
» MOGADISHU - At least 32 civilians were killed and 63 injured in an explosion on a popular beach in Somalia's capital Mogadishu late on Friday evening, police said, an attack blamed by Somali state media on the militant Islamist group al Shabaab.
China's BYD opens EV factory in Thailand, first in Southeast Asia
Reuters, Published on 04/07/2024
» RAYONG - China's BYD (Build Your Dreams) opened an electric vehicle (EV) plant in Thailand on Thursday, the auto maker's first factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player.
Chinese automakers retain grip over Southeast Asia's EV market
Reuters, Published on 21/06/2024
» Electric vehicle (EV) sales are surging in Southeast Asia, led by China's BYD (Build Your Dreams) and Vietnam's VinFast, eating into the internal combustion engine car market dominated by Japanese and Korean firms, Counterpoint Research said on Friday.
Bangkok motor show sales up, Toyota leads
Reuters, Published on 08/04/2024
» The Bangkok International Motor Show recorded a 27.5% rise in orders, with Toyota leading sales, while traditional cars still dominated despite electric vehicles gaining pace, the show's organiser said on Monday.
Musk: Chinese EV firms will 'demolish' rivals without trade barriers
Reuters, Published on 25/01/2024
» SAN FRANCISCO - Tesla CEO Elon Musk said on Wednesday Chinese automakers will "demolish" global rivals without trade barriers, underscoring the heat the United States electric vehicle (EV) market leader faces from the likes of BYD (Build Your Dreams), who are racing to expand worldwide.
In EV catch-up race, legacy automakers hitch a lift with Formula E
Reuters, Published on 23/01/2024
» LONDON - Legacy automakers playing catch-up with electric vehicle (EV) leaders like Tesla are leaning on their Formula E electric racing teams for innovations to build better mass-production EVs with greater range and efficiency, or a lower price tag.
Porsche warns luxury not immune to economic woes
Reuters, Published on 25/10/2023
» BERLIN - Porsche AG reported nine-month results in line with its annual forecast on Wednesday but warned the luxury sector was suffering like others from higher costs and dampened consumer confidence as interest rates rise.