BANGKOK -- The Thai government touched off a domino effect when it started throwing subsidies at Chinese electric vehicle makers, industry figures say as they watch the resultant massive oversupply of EVs ignite a price war in the combustion engine auto segment, now suffering from production cuts and plant closures.
Electric vehicles
Thai subsidies for Chinese EV makers wreak havoc on auto sector
Massive oversupply forces legacy Thai companies to cut production or close down
The secretary general of the Thailand Board of Investment pleads with Chinese EV maker GAC Aion, "It would be great if you could lend support to our parts producers by using some auto parts produced by Thai companies." (Photo by Kenya Akama)
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