China brings EV price war to Thailand, dangling 38% discounts
Chinese EV makers, facing competition at home, are offering steep discounts in Thailand to attract budget-conscious buyers. BYD, Saic Motor, and Chery have slashed prices by up to 38%, boosting sales but risking long-term market impact due to oversupply. The Thai government extended deadlines for local production and subsidies amid concerns of oversupply. Some dealers sell at a loss, and buyers express frustration over rapid price drops. Thailand's EV subsidies require local production commitments, with Chinese brands leading the market push.
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