Thailand continues to receive more foreign investments from global automotive manufacturers, especially Chinese electric carmakers. Great Wall Motor and Foxconn announced their investments and JV in Thailand last week. In contrast, Malaysia still lags behind its neighboring countries in EV development.
Indonesia and the Philippines' 3Q22 smartphone market both declined, reflecting acceleration of inflation and macroeconomic conditions. Samsung Electronics Vietnam smartphone factory is expected to shut down for about 15 days in December, probably due to sluggish smartphone sales.
China's Great Wall Motor to double Thai EV investment
Chinese automaker Great Wall Motor vowed to double its investment in Thailand. "We plan to invest a total of THB22.6 billion in Thailand," said Narong Sritalayon, managing director of Great Wall Motor (Thailand), in comments to Nikkei Asia. "We will produce not only EVs but also parts and EV infrastructure in order to push Thailand toward becoming the EV production hub of [the Association of Southeast Asian Nations]."
Foxconn JV breaks ground for new EV plant in Thailand
Horizon Plus, a joint venture between Taiwan-based Foxconn Technology Group and Thailand's state-run energy group PTT, broke ground recently for a new electric vehicle (EV) production base in Thailand.
The EV production site is located in the Rojana Nhongyai Industrial Park in Chonburi Province. The site is part of Thailand's so-called Eastern Economic Corridor (EEC), a special economic zone in eastern Thailand.
Indonesia's Q3 2022 smartphone shipments down 21% YoY on macro concerns
With macroeconomic conditions showing no signs of improvement, Indonesia's smartphone shipments declined 21% YoY in Q3 2022, according to Counterpoint's Monthly Indonesia Smartphone Channel Share Tracker. High smartphone demand in Q3 2021 after the lifting of COVID-19 lockdowns resulted in higher shipments which made this quarter look even worse.
Philippines' smartphone market declines for fifth consecutive quarter in 3Q22, says IDC
According to International Data Corporation's (IDC) Quarterly Mobile Phone Tracker, smartphone shipments in the Philippines declined by 8.0% Quarter-on-Quarter (QoQ) and 6.8% annually, bringing in 3.9 million units in 3Q22.
Samsung Vietnam smartphone factory expected to shut down for 15 days
Samsung Electronics Vietnam smartphone factory is expected to shut down for about 15 days in December, probably due to sluggish smartphone sales and Samsung's desire to take more aggressive measures to adjust inventory, the Korean media reported.
Why does it take so long to build EV infrastructure in Malaysia
Malaysia is striving to reach its ambitious goal of 1,000 DC stations by 2025, but currently, there are only 34 DC chargers installed. In order to achieve 1,000, the country will have to build 966 DC fast chargers within three years.
