New variant casts shadow over Thailand Motor Expo, concerns outbreak might have an result on the trade

The uncertainty of the newly identified Covid-19 variant Omicron looms over today’s opening of the Thailand International Motor Expo as corporations promote their new electric automobile choices.
Many of the producers on the exhibition worry that the brand new variant may force countries to return to lockdowns or take other measures that can hurt enterprise as the worldwide economy and Thai auto industry start to bounce back.
If Omicron proves to be a harmful pressure, it will have an result on the automotive business and “deal a blow” to the local and international financial system, said Takeshi Kasahara, the VP of sales at a local Isuzu distributor.
“That would deal a blow to the Thai and international economic system. However, we are assured governments can cope with the model new outbreak.”

The automotive business accounts for about 10% of the Thai GDP and is a big source of employment. Several automakers together with Honda, Nissan, Toyota, Isuzu, Subaru, and Suzuki manufacture automobiles domestically in Thailand for export to overseas markets.
The spokesman of the Federation of Thai Industries, Mr. Surapong Paisitpatanapong reported a 40.7% year-on-year increase from 2020 on the value of automotive exports within the first 10 months of 2021. He says he believes Thailand is on monitor to export 870,000 vehicles this 12 months, however that would change with lockdowns and a global shortage of semiconductors.
Great Wall Motor (GWM), a Chinese SUV producer, worries the model new variant might influence their investments and future enterprise strategy to make use of Thailand as a producing and export hub for electric vehicles to the South African, Vietnamese, and Malaysian markets.
GWM plans to launch nine electrical vehicle models in Thailand and is expected to generate 22 billion baht value of investment and create round 3,500 jobs with their home operations, according to Industry Minister Suriya Jungrungreangkit.
Now of Great Wall Motor ASEAN and Thailand says the corporate may need to revise its strategy in Thailand if the Omicron outbreak escalates to the worst-case state of affairs..

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