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Business trends

Japan carmakers angle for EV primacy in Southeast Asia

Thai incentives for local production draw in Toyota and Honda

Japanese automakers have a dominant market share in Thailand and other major Southeast Asian economies, a position they hope to maintain with electric vehicles.   © Reuters

BANGKOK -- Japanese automakers are moving to extend their iron grip on the Southeast Asian market into electric vehicles, starting with plans to build plug-in and hybrid offerings in Thailand.

The Thai government has offered generous tax incentives to automakers producing plug-in hybrids and electrics in the country for applications submitted by the end of 2018. This has led a flurry of companies to flesh out plans.

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