BANGKOK : Chinese automakers dominated Southeast Asia's fast-growing electric vehicle market, selling three out of every four EVs in the first quarter, research firm Counterpoint Research said on Thursday.Thailand - the main regional auto manufacturing hub - is driving the transition, with the country acc
BANGKOK : Chinese automakers dominated Southeast Asia's fast-growing electric vehicle market, selling three out of every four EVs in the first quarter, research firm Counterpoint Research said on Thursday.
Thailand has offered incentives to consumers and subsidies to automakers to build more EVs locally. That has attracted a wave of investments by Chinese carmakers in local manufacturing, including by Great Wall Motor and BYD. In total, Chinese EV makers have committed to invest at least $1.44 billion in setting up production facilities in Thailand, where the auto industry has been dominated by Japanese companies for decades.
Across the region, the share of EVs in total passenger vehicle sales rose to 3.8 per cent in the first quarter, from 0.3 per cent a year earlier, according to Counterpoint.
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