The 45th Bangkok International Motor Show (2024 Bangkok Motor Show) will be held in Thailand from March 27 to April 7, 2024.
It is understood that this exhibition is the largest automobile and motorcycle exhibition in ASEAN. At the exhibition, the total number of reservations for cars and motorcycles reached 58,611. Among them, motorcycle reservations were 5,173, car reservations were 53,438, electric vehicle reservations accounted for 32.78%, and the share of electric vehicles at last year's exhibition was 21.5%. The total number of visitors to the event reached 1.6 million.
The exhibition attracted many car companies, motorcycles and parts manufacturers from China, Europe, Japan, India and Vietnam to participate in the exhibition. Among them, the Southeast Asian market represented by Thailand has become a popular overseas destination for Chinese car companies.
At this Bangkok Motor Show, a number of Chinese car brands appeared to showcase their latest products and technologies to Thai consumers, mainly electric vehicles. Many Chinese car brands including SAIC MG, Great Wall Motors, Changan, BYD, GAC Aian, Jikrypton, Nezha Motors, Xpeng Motors, etc. made a collective appearance. In addition, at the 2024 Indonesia International Auto Show held not long ago, Chinese car companies represented by BYD, SAIC-GM-Wuling and Chery also brought a variety of models to show off their skills.
Focusing on Thailand and Indonesia, Chinese car companies are actively exploring the Southeast Asian market through new energy vehicles and continue to expand their market share.
Golden Spider Media Account Manager Lei Qingru attended the 2024 Bangkok International Motor Show
The organizers said in a statement that a total of 53,438 car orders were received during the auto show, of which BYD received 5,345 orders. "Electric vehicles from China have attracted widespread attention."
According to reports, Chinese automakers have become the focus of attention at the auto show. Thailand plans to increase the proportion of electric vehicle production to 30% by 2030. Chinese automakers are increasing investment in building production facilities in Thailand.
Facing the strong momentum of Chinese auto companies, Japanese auto giants such as Toyota, Honda, and Isuzu, which have long dominated the Southeast Asian auto market, are working hard to maintain their market positions and plan to invest 150 billion baht in Thailand to strengthen research and development in the field of electric vehicles. production capacity. In addition, a Tesla executive also stated not long ago that actively expanding the Southeast Asian market is the company's top priority. It seems that more and more multinational car companies are trying to seize the opportunities in the Southeast Asian auto market during the transition from fuel vehicles to electric vehicles, and the competition faced by Chinese car companies in this huge potential market will also become increasingly fierce.
Why has the Southeast Asian market represented by Thailand become a popular overseas destination for Chinese car companies?
1. Policy east wind blows frequently.
One of the important reasons why Chinese car companies are flocking to Southeast Asia is active policy support. In recent years, Southeast Asian countries have introduced policies to support the development of the new energy vehicle industry. Taking Thailand as an example, in order to realize the "2030 Vision", that is, to increase the production of zero-emission vehicles to 30% of the total production in that year by 2030, the Thai government has introduced a series of support measures, including providing car purchase subsidies and significantly reducing the import of new energy vehicles. Customs duties and consumption taxes, exemption of corporate income tax for electric vehicles and core parts production projects for several years, etc. With a set of policy "combinations" in place, Chinese and multinational car companies interested in the Southeast Asian market have rushed to Thailand.
2. The consumer market has great potential.
With the rapid transformation of the global automobile industry, Southeast Asia, with a population of 700 million, has become a new frontline for competition among automobile companies. Based in Thailand, it will better radiate Southeast Asian countries and the global right-hand market.
3. The global supply chain is being restructured at an accelerated pace.
On the one hand, the demand for electric vehicles in Europe and the United States is slowing; on the other hand, Western countries in Europe and the United States are trying to decouple from China's industrial chain. In addition, through new energy vehicles gradually gaining a foothold in Southeast Asia and taking a dominant position in the local electric vehicle market, it can promote the development of Chinese automobile brands in the global automobile supply chain. It has become a new trend for Chinese enterprises to choose to expand their business overseas in Southeast Asia.
Chinese auto brands are accelerating their overseas expansion, which will also set off a boom for Chinese auto parts companies to go overseas.
In order to comply with this trend, Golden Spider Media will hold the "China-Thailand Fasteners and Auto Parts Matching Conference" in Bangkok, Thailand, from June 19th to 23rd this year.
This event is supported by the Federation of Thai Industries, Siam Hardware Association and other associations. We hope that through this matching meeting, we can help China's automotive industry, auto parts and fastener companies go global and lay the foundation for a sustainable global strategy.
China-Thai fasteners and auto parts matching meeting
Time: June 19-23, 2024
Venue: Bangkok International Trade and Exhibition Center (BITEC), Thailand
organizer:
China Fastener Info
Supporting organizations:
Federation of Thai Industries
Siam Hardware Association
Thailand New Energy Vehicle Association
Thailand Automotive Research Institute
Thailand Investment Promotion Board
Weihua Industrial Park
Amata Industrial Park
Golden Spider Media will organize about 100 domestic fasteners and auto parts companies to go to Bangkok, Thailand, to hold the "China-Thailand Fasteners and Auto Parts Matching Meeting." At that time, we will invite about 100 representatives of relevant industry chain companies in Southeast Asia to come to the site for business matching.
The matching meeting aims to promote trade exchanges between China and Southeast Asia in the field of fasteners and auto parts, help Chinese fastener and auto parts companies expand their presence in the Southeast Asian market, and lay the foundation for a sustainable global strategy.
