VinFast will face competition on home ground when Chinese electric vehicle (EV) maker BYD Auto Co builds a plant in Vietnam to produce car parts, Reuters learnt — in a move that would reduce the company’s reliance on China and deepen its supply chain in Southeast Asia as part of a global expansion.
Chinese EVs are affordable for customers in Southeast Asian nations and Chinese EV makers have few competitors there. Asean countries are now target markets for Chinese EV companies whose cars range from RMB 100,000 — 200,000.
Thailand launched its first carbon credit exchange, marking a major step toward the country’s goal to achieve carbon neutrality by 2050 and combat climate change.
Many are turning to electric vehicles (EVs) as a way of reducing carbon emissions. Global efforts to diversify supply chains combined with the drive to adopt green technology have left an opportunity for EV production ripe for the taking, especially in Southeast Asia.
The EV trend is undeniably growing in Thailand, as more and more people are seeking out electric vehicles. Although Thailand’s EV infrastructure is expanding to cover most areas, EVs are still new to many Thais, leaving them intrigued and concerned about potential problems when using EVs.
The federal government has decided to allow migrant workers from 15 countries to be employed in the country’s manufacturing, construction and service sectors, said Datuk Seri Hamzah Zainudin.
BANGKOK, (PRNewswire) — By the end of 2022, a fully-electric Mercedes-EQS will roll off a production line in Bangkok to mark another milestone in Thailand’s remarkable journey from conventional automaking hub to regional frontrunner in electric vehicle (EV) production, according to an article published by the country’s Board of Investment (BOI).
At the opening of the Intermach-Subcon Thailand 2022 Machinery Technology and Subcontracting Industry Exhibition held at the Bangkok International Trade and Exhibition Centre (BITEC) today (18 May 2022), Ms Duangjai Asawachintachit, Secretary-General of the Thailand Board of Investment (BOI), stated that the board recognises the importance of developing Thai industries and promoting investment in targeted industries that will play an important role.
The BOI has collaborated with Informa markets and the Thai subcontracting promotion association to organize the event “Subcon Thailand 2022” in order to create a business environment to support the growth of target industries, particularly in terms of Thai manufacturers who are prepared to enter into subcontracting production with large companies that will become buyers which the BOI has invited to the annual function this year.
We continue to emphasize the potential of the subcontracting industry at SUBCON Thailand 2022, which is in its sixteenth edition as of this year. Being a hub for purchasing industrial components and providing opportunities for business expansion between Thai entrepreneurs and international buyers. In addition, there is an opportunity to connect all businesses so that they can communicate across borders, as well as to create a body of knowledge on technology and innovation alongside the production sector, with access and coverage.” Ms Duangjai said.
This year’s fair has exhibits and events:
- There will be a Buyer’s Village or piece-by-piece exhibition space.
- The S-Curve exhibition zone, and a special show Presenting industrial items for which entrepreneurs in the industry that manufacture quality parts have established production techniques to enable production in target industries such as the automobile industry. and contemporary automobiles.
- Electric industry, electronics and intelligent electronics industry, automation and robotics business, digital and software industry, medical equipment industry, aerospace industry, and rail industry are among more than 45 relevant themes.
Mr. Panuwat Triyangkulsri, Deputy Permanent Secretary of the Ministry of Industry, states that while Thailand alters its economic structure to increase its development in accordance with the ‘Thailand 4.0’ goal, the country is concentrating on becoming a value-driven economy by shifting from commodity production to the production of innovative items. Significant infrastructural investments are now being planned. This includes the Eastern Economic Corridor (EEC) project, high-speed trains, airports, ports, and roads are all part of the government’s plan to make Thailand one of the most attractive investment locations in the area.
“Many industries are currently undergoing fresh revolutions and advances. Technological advancements serve a crucial function as a catalyst for numerous significant transformations. The advent of the intelligent factory advanced machines include industrial robots, 3D printing, data centers, cloud services, 5G, AI, IoT, and AI. All of these are essential to the future transformation of the industry. This year marks the return of INTERMACH-SUBCON Thailand 2022 in its entirety. This is a big regional event made possible by the participation of the public and business sectors both domestically and internationally. This event is in line with Thailand’s government policy and satisfies the needs of the private sector, which is in search for latest technologies and methods to develop technology-driven and innovation-driven manufacturing in order to construct a “smart factory” with increased efficiency and decreased production costs.
Mr. Panuwat stated that it is an opportunity for both small and medium-sized entrepreneurs, SMEs, and startups, as well as large corporations, to match their businesses, learn about technology and intelligent breakthroughs, and be prepared to support the development of the industry of the future.
Mr. Manu Leopairote, Chairman of Informa Markets Thailand, shared that the event was held in its entirety under the theme “Smart Technology Driving the Industry” (SMART TECHNOLOGY FOR MANUFACTURING) and is prepared to serve as a platform for entrepreneurs to gain access to innovation and technology for a variety of industries, including metalworking machinery technology from top brands.
Participate in the machinery technology exhibition and subcontracting industry for the procurement of leading parts in ASEAN and the best of the regional business matching arena today! INTERMACH & SUBCON Thailand 2022 will be held in its entirety until May 21, 2022 at the Bangkok International Trade and Exhibition Centre (BITEC).
Press Release_Informa Markets
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