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Energy Ministry Considers Setting New EV Production Target

Thailand’s Energy Ministry Permanent Secretary Kulit Sombatsiri said the government will discuss the new EV target with state agencies and car manufacturers

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BANGKOK (NNT) – The National Electric Vehicle Policy Committee is considering setting a new electric vehicle (EV) production target, with EVs making up half of all car manufacturing by 2030. The goal is in line with the global trend of reducing carbon dioxide emissions from all new cars.

Energy Ministry Permanent Secretary Kulit Sombatsiri said the government will discuss the new EV target with state agencies and car manufacturers within this month as global car companies have asked the government whether the new target is possible.

The new target, pushed by major automakers in Thailand, comes as state agencies and power companies are trying to relieve concerns over an insufficient number of EV charging facilities and prolonged charging times.

He said high prices are also a major obstacle for prospective EV buyers, but EV technology is growing rapidly and prices will become more affordable over time. The government expects the prices of EVs to equal internal combustion engine vehicles by the end of 2040.

Information and Source
Reporter : Subhabhong Rarueysong
Rewriter : Tarin Angskul
National News Bureau & Public Relations :
http://thainews.prd.go.th

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Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

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BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

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Economics

Thailand’s Economy and COVID-19: Five Things to Know

Thailand’s GDP fell by 6.1 percent in 2020, the largest contraction since the Asian financial crisis. The tourism sector, which accounts for about a fifth of GDP and 20 percent of employment, has been especially affected by the cessation of tourist travel.

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Like many countries, Thailand’s economy was hit hard by the COVID-19 pandemic last year. The country’s GDP fell by over 6 percent in 2020 and many workers, especially those related to the tourism sector, lost their jobs.

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