Saudi Arabian investment in electric vehicle production in Thailand sought

23 Sept 03:42 Key points summarised by AI

Thailand is actively courting Saudi Arabia for investment in its electric vehicle (EV) production sector, aiming to become the EV manufacturing hub of the ASEAN region.
Saudi Arabia's Public Investment Fund (PIF) is a significant global EV investor, with ventures like Ceer (with Foxconn and BMW) and a majority stake in US-based Lucid Motor, aligning with its Vision 2030 to diversify the economy.
The PIF has also requested Thai manufacturers of car accessories and spare parts to establish outlets within the kingdom, signaling broader economic engagement.
Thailand has already attracted 15 car manufacturers for EV production, experiencing a 7.6-fold increase in EV registrations this year and an estimated 61 billion baht in investment since 2017.
Thai Prime Minister Srettha Thavisin recently led a delegation to Saudi Arabia to discuss bilateral trade and economic cooperation, emphasizing the priority of the EV project.

New home loan scheme aims to boost property sector with Bt125 billion

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.