Japan, Thailand ink deal to develop, expand EV production

Japan and Thailand on Thursday agreed to further develop the Southeast Asian nation's electric vehicle production industry and boost competitiveness.

Saito Ken and Pimphattra Wichaikul, the industry ministers for both countries, met in Tokyo to sign the Cooperation Framework on Industrial Development.

The two sides will work together to train and develop staff, decarbonize production processes, and bolster the supply chain for car parts.

Japan's auto industry has long enjoyed a dominant sales position in Thailand, holding a 90 percent market share up until several years ago.

But the share dropped below 80 percent last year as Chinese EV manufacturers poured into the country, built plants, and expanded production.