Thai gov't EV subsidies spark price war

3 min read Economy, Energy, ESG, Thailand, ASEAN-China Free Trade Agreement, BYD, Changan, EV, GAC Aion, GWM, MG

Thailand’s automotive industry, the nation’s fourth-largest sector, contributes around 11% to the nation’s GDP and employs over 750,000 workers. However, recent government policies and agreements with China aimed at boosting EV production have led to issues including factory closures and EV price wars due to oversupply.