News

To attract investment from electric vehicle (EV) related businesses, the Thai government has rolled out a series of incentives, prompting responses from major multinational companies.

As electric vehicle (EV) sales slow down in Europe and the US, the ASEAN market is experiencing notable growth, according to a report released by Maybank Investment Bank.

Thailand announced that manufacturers producing hybrid vehicles will benefit from a reduction in excise tax. This move will attract at least 50 billion baht (about USD 1.4 billion) in new investments over the next four years.

EV's charging (also known as V2G, vehicle-to-grid) has the potential to contribute to the smoothing out of peaks and troughs in grid electricity demand, but many are wary, and the tech is currently expensive.

ASEAN Sustainable Energy Week took place from July 3 to 5 in Bangkok, Thailand, featuring over 1,400 global energy brands showcasing the latest in electric vehicle technology and energy storage solutions and expected to attract 28,000 visitors.

Thai gas stations are increasingly diversifying into non-oil businesses such as pet care and coffee as gasoline sales decrease. This shift is driven by the government's target for 30% of domestic car production to be EV by 2030.

The rare earth elements used in making EVs and wind turbines are vital to renewable energy technology. Vietnam boasts abundant rare earth resources but suffers from a lack of advanced technology, leading to a continued decline in extraction volumes.

Indonesia’s state electricity company (PLN) is converting poles into public EV charging stations. Following success in Jakarta, 2,000 more will be converted this year to boost public confidence in electric vehicles.

Laos is ambitiously pursuing renewable energy development, recently announcing a collaboration with Thailand's Energy Absolute (EA) to jointly develop hydropower and electric vehicles. This initiative is expected to boost Laos' revenue within three years.

The Biden administration announced a significant increase in tariffs on Chinese imports, particularly raising tariffs on EVs to 100%. However, analysts believe that the potential ripple effects may not necessarily be beneficial for the United States.