Thai subsidies for Chinese EV makers wreak havoc on auto sector

BANGKOK -- The Thai government touched off a domino effect when it started throwing subsidies at Chinese electric vehicle makers, industry figures say as they watch the resultant massive oversupply of EVs ignite a price war in the combustion engine auto segment, now suffering from production cuts and plant closures.

The unintended consequences have also spread to supply chains, where at least a dozen parts producers have closed because the subsidized Chinese EV makers do not buy from the vast majority of them.