Hyundai Mobility Thailand, the Korean automaker’s subsidiary, warns that this year’s electric vehicle (EV) sales in Thailand may fall short of the predicted 130,000 units. The company cites an ongoing price war amongst Chinese EV manufacturers as the primary obstacle, leading to unstable car prices and discouraging potential buyers.
The managing director of Hyundai Mobility Thailand, Wallop Chalermvongsavej, noted the price war as a significant hurdle in the EV market.
“Buyers prefer to wait and see, as they don’t know whether EV prices will keep decreasing.”
The price turbulence began last year when several Chinese firms slashed EV prices to attract potential buyers amidst escalating competition. The move to reduce prices was also driven by the need to clear stock, added Wallop.
Such instability in prices can be…
