Exclusive-Thailand's EV makers seek to renegotiate govt incentives as sales slow
As sales of electric vehicles miss expectations in Southeast Asia's largest market, Thailand's main group of manufacturers, comprising large Chinese and Japanese firms, seeks to extend production deadlines set in a government scheme of incentives. The scheme helped lure investment of more than $1.44 billion in new production facilities from Chinese EV car makers, such as BYD Motors and Great Wall Motor, making Thailand a regional hub in turning out electric vehicles (EVs). But as sales falter, partly because Thai banks have tightened loan requirements, the Electric Vehicle Association of Thailand (EVAT) is asking the government for more time to meet targets in the main incentive scheme supporting the industry.