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Thailand

Three BYD electric vehicles—Dolphin, Seal, and Atto 3—displayed in a modern showroom setting with a "Motor Show Campaign" promotional banner offering special deals from February 22 to April 30, 2024.

BYD Offers Free Charging in Thailand After EV Price Cuts

Toyota Corolla Cross GR Sport in white with black roof, featuring sporty design elements including aggressive front fascia, distinctive headlights, and GR Sport badging.

Thailand Introduces Tax Incentives to Boost Hybrid EV Production

Advanced robotic assembly line at Toyota's manufacturing plant in Thailand, with industrial robots welding and assembling pickup truck cabins.

Thailand Cuts 2024 Car Production Target Amid Economic Woes

Vehicle body shells on an automated assembly line in a modern automotive manufacturing plant, showcasing Thailand's advanced production capabilities.

ASEAN Automotive Industry: Emerging Trends and Shifts in 2024

As the 2024 U.S. presidential election approaches, the potential race between former President Donald Trump and Vice President Kamala Harris is drawing significant attention. While much of the focus is on domestic policies, the outcome of this election could also have profound implications for the automotive industry in Southeast Asia. Trade Policies and Tariffs One of the most immediate impacts of a Trump vs. Harris election on Southeast Asia's automotive industry would stem from trade policies and tariffs. During his presidency, Trump imposed a series of tariffs that affected global trade, including the automotive sector. These tariffs increased the cost of imported automotive parts and vehicles, disrupting supply chains and raising prices for consumers. If Trump were to return to the White House, there is a strong possibility that he would reinstate or even expand these tariffs, potentially leading to higher costs for Southeast Asian automakers that rely on exporting vehicles and parts to the U.S. market. This could force companies to rethink their supply chain strategies and possibly shift production to avoid tariffs, impacting the regional automotive landscape. Conversely, Kamala Harris is expected to continue the Biden administration's approach, which has been more focused on targeted tariffs and fostering international trade relations. Harris has criticized blanket tariffs and has shown a preference for trade policies that support both American workers and international partners. This could mean a more stable and predictable trade environment for Southeast Asian automakers, allowing them to plan and invest with greater confidence. Electric Vehicle (EV) Transition Another critical area of impact is the transition to electric vehicles (EVs). The Biden administration, with Harris as Vice President, has strongly supported the shift towards EVs through various incentives and regulatory measures. Harris is likely to continue these policies, pushing for more stringent emissions standards and greater support for EV infrastructure. For Southeast Asian countries, which are increasingly becoming hubs for EV manufacturing, a Harris presidency could be beneficial. It would likely mean continued U.S. support for global EV initiatives, potentially leading to increased investment in Southeast Asia's EV sector. Countries like Thailand and Indonesia, which are positioning themselves as key players in the EV market, could see accelerated growth and more opportunities for collaboration with U.S. companies. On the other hand, a Trump presidency could slow down the global EV transition. Trump has historically supported fossil fuels and rolled back environmental regulations, which could reduce the momentum for EV adoption. This might lead to a more fragmented global market, with Southeast Asian automakers needing to navigate varying regulatory environments. Investment and Economic Stability The broader economic policies of Trump and Harris could also influence investment flows into Southeast Asia. Harris's policies are expected to be more aligned with the current administration's focus on economic stability, green energy, and international cooperation. This could create a favorable environment for foreign direct investment (FDI) in Southeast Asia's automotive sector, particularly in green technologies and sustainable manufacturing practices. In contrast, Trump's economic policies, characterized by protectionism and unilateral trade actions, could introduce more volatility and uncertainty. This might deter investors and complicate long-term planning for Southeast Asian automotive companies. Conclusion The outcome of the Trump vs. Harris election will undoubtedly have significant implications for the automotive industry in Southeast Asia. Harris's potential presidency promises a continuation of supportive trade policies, a strong push towards EVs, and a stable investment climate. In contrast, a Trump presidency could reintroduce trade barriers, slow the EV transition, and create economic uncertainties. Southeast Asian automakers and policymakers will need to closely monitor the developments in the U.S. election, as the resulting policies will shape the region's automotive industry's future trajectory.

US Election Impact on Southeast Asian Automotive Industry

KUKA robotic arms assembling vehicle body structure on modern automotive production line with automated welding systems

Thailand’s Auto Industry Hits 14-Year Low Amid Economic Woes

Car Production in Southeast Asia: Regional Leaders and Trends

The Zeekr X, a premium electric SUV, launched in Thailand as part of Zeekr's strategy to target the high-end EV market amid competitive challenges.

Zeekr Enters Thailand’s Premium EV Market Despite Challenges

Assembly line inside GAC Aion's electric vehicle factory in Thailand, showcasing advanced manufacturing processes and EV production.

Expanding Global Presence: GAC Aion’s New Factory in Thailand

MG's electric vehicle battery platform showcasing advanced technology for EV production in Thailand.

MG Opens EV Battery Plant in Thailand with 50,000 Unit Capacity

Three BYD electric vehicles showcased during the Motor Show Campaign in Thailand, highlighting special deals available from February 22 to April 30, 2024

Thai Government Investigates BYD Price-Cuts in Thailand

Graphs showing the decline in Thailand's Industrial Confidence Index (TISI) as of June 2024, segmented by business size and region.

Thailand’s Industrial Confidence Hits 2-Year Low: Economic Impact

Speaker at AMCHAM Thailand podium discussing US-Thai trade relations and future economic outlook

Trump’s Return: Impact on Thai-US Trade and Automotive Sector

White Honda Accord Gen 11 e:HEV with 'All-new Accord' and 'Honda Sensing' displayed in the background.

Honda Accord vs D-Segment Rivals: Thailand Market Analysis

Geely Radar RD6 pickup truck in desert beige featuring distinctive LED headlights, bold RADAR lettering, and two-tone alloy wheels against snowy mountain backdrop

New EV Brands Set to Launch in Thailand by 2024

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