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Electricity provider is building the first EV made in Thailand

Priced at around 38,000 USD, its cheaper than a comparable Kia Soul or Nissan Leaf electric car.

Boris Sullivan

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Electricity billionaire Somphote Ahunai is building the Mine Mobility , the first passenger electric car made in Thailand.

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Thailand’s second-biggest provider electricity Energy Absolute has formed an EV subsidiary, Mine Mobility, and unveiled its first passenger electric car at this year’s Bangkok Motor show. Now the company has already received more than 4,500 orders. 

Priced at around 38,000 USD, its cheaper than a comparable Kia Soul or Nissan Leaf electric car. According to the Mine Mobility, their five-seat hatchback has a range of around 200 kilometres (124 miles). 

Enough to convince a group of five taxi unions to order 3,500 cars for the megacity of Bangkok. According to Bloomberg, the cab companies chose Mine Mobility electric cars because they could promise the earliest delivery.

Increasing competition, the arrival of charging stations and lower production costs will drive down the price of an electric vehicle (EV) to a more affordable 1 million baht within 3-5 years, says Yossapong Laoonual, president of the Electric Vehicle Association of Thailand.

Last week the EVAT signed a memorandum of understanding with partner associations in Asean — the Electric Vehicle Association of Malaysia, the Electric Vehicle Association of the Philippines and the Electric Vehicle Association of Singapore — to increase regional cooperation in the development of EVs in Southeast Asia.

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Business

Thailand Approves Latest Economic Relief Package for Businesses

Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.

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On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.

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Business

Asia-Pacific sees 3.9% growth in deal activity in February 2021

Boris Sullivan

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Chair’s Statement on the Informal ASEAN Ministerial Meeting (IAMM)

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

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Banking

Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses

Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.

Olivier Languepin

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The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.

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