vinny41

EV 3.0 stated locally produced for batteries https://www.headlightmag.com/2023-08-24-ev-subsidy-package-draft/ SAIC MG already have battery factory in Thailand Hasco-CP begins EV battery pack production in Thailand Capacity for 50,000 packs with automated assembly and testing https://www.just-auto.com/news/hasco-cp-begins-ev-battery-pack-production-in-thailand/?cf-view For the rest of the vehicle I assume made in Thailand

the timelines related to manufacturing of cars and batteries in Thailand have already been signed off by both the Thai Government and the Automotive Brand's Neta and MG will be producing locally made cars 1st quarter 2024 and BYD sometime in the 1st 6 months of 2024

2024-2025 EV's Brands that have been sold in Thailand as part of EV 3.0 subsidy will be built in Thailand 2026 All Batteries to be locally sourced (Thailand) 2024-2025 EV's imported to Thailand as part of EV 3.5 subsidy to be built in Thailand 2026-2027 2024-2027 should see locally manufacturing developed if it doesn't already exist to provide locally source parts for EV's expect early teething issues from any new production 2028 hopefully any teething issues will be resolved I don't expect to see swappable batteries and swappable batteries stations built in Thailand until 2027 Recently I have seen good reports from GAC AION They reduced the price of their vehicles and they applied the reduction to any customer that had already received their vehicles prior to the price reduction announcement And there was a report last week of someone that had a major failure within 5 days of purchase the dealer offered to take the car back and supply a brand new replacement

Why do you want to know?

Other Brands are looking at battery swapping The deal makes Geely (GEELY.UL), whose brands range from Volvo to Zeekr, the second automaker to sign a battery swapping partnership with Chinese electric vehicle maker Nio. https://www.reuters.com/business/autos-transportation/chinas-nio-teams-up-with-geely-battery-swapping-projects-media-2023-11-29/ China's Nio, Changan Auto to jointly develop battery-swapping EVs https://www.reuters.com/markets/deals/chinas-nio-partner-with-changan-auto-developing-battery-swapping-evs-2023-11-21/ Rising Auto, in collaboration with ENERGIEX, officially launched its battery swapping service in September 2022. It was jointly developed by SAIC Motor, CATL, SINOPEC, and CNPC. https://autonews.gasgoo.com/m/70024315.html While some newer condos have facilities to install EV chargers there are many condos buildings that have no facilities to install ev chargers ev with swappable batteries seems a good alternative It will be interesting to find if Nio battery swapping stations are capable of handling battery swaps from other brands

Building EV's is a risky business As I’ve mentioned elsewhere, I’m leery of recommending Chinese stocks because of Beijing’s capriciousness. However, I tend to be more accepting of an investment in Nio. It is quickly growing sales and has support from strategic investors, government-backed though they may be. I wouldn’t take a large stake in Nio, though. Instead, a small investment would allow you to participate in the potential growth and development of a unique EV maker. https://investorplace.com/2023/12/nio-stock-outlook-is-chinese-ev-maker-nio-worth-the-risk/

Nio has completed Including China, Nio now has 2,217 PSSs spread across six markets, which have provided nearly 33 million battery swaps to users. https://www.fleetnews.co.uk/news/ev-manufacturer-nio-opens-30th-battery-swap-station-in-europe

When the the OIC or the Office of the Insurance Commission published 'Registrar Order No. 47/2023 you can take it has confirmed and as previously stated The entire document can be downloaded from the Thai General Insurance Association 151 pages Thai language only https://www.tgia.org/gia_insurance-TH_0#:~:text=คำสั่งนายทะเบียนที่,15%2F12%2F2023 ดาวน์โหลดเอกสาร

Progress on new criteria for EV car insurance On December 12, 2023, the OIC or the Office of the Insurance Commission published 'Registrar Order No. 47/2023 This order will affect insurance companies. Various conditions can be added to EV car insurance policies starting January 1, 2024, but if any insurance company is unable to make changes in time, they have time to prepare until May 31, 2024 , when all insurance companies must enforce the conditions. This order https://www.amarintv.com/spotlight/business-marketing/detail/56923 In addition to the main policy people can purchase additional battery coverage or Battery Replacement so that the insurance company will cover the battery 100%. Set protection criteria for EV car chargers Another part included in A new criterion for EV car insurance in this edition is 'EV Charger Protection', which is an additional part that car owners can choose to purchase additional insurance for their EV chargers. The entire document can be downloaded from the Thai General Insurance Association 151 pages Thai language only https://www.tgia.org/gia_insurance-TH_0#:~:text=คำสั่งนายทะเบียนที่,15%2F12%2F2023 ดาวน์โหลดเอกสาร

I think insurance is included in the monthly battery rental

This is a public forum you can put forward any label you like against me but in the words of the Sir Tony Blair am i bothered simple answer is NO

Nio is offering its Chinese customers ane Europeans to either purchase a car with Battery or purchase a car without a battery and providing a Battery rental service. Battery can be charged in the normal method or at a Battery swap out station where you can get a replacement fully charged battery in 5 minutes with the battery as a service option you never own the battery so no worries about battery degradation if you have the 75-kwh battery and you need more powerful battery for long road trip you can rent 100-kwh battery for one month and then swap back to 75-kwh battery https://www.drive.com.au/news/new-nio-battery-swap-stations-europe/ NIO ET5 Touring prices in China Starting price with battery 75-kWh ¥298,000 RMB 100-kWh ¥356,000 RMB Starting Price without Battery 75-kWh ¥228,000 RMB 100-kWh ¥228,000 RMB Battery monthly rental price 75-kWh ¥980 RMB 100-kWh ¥1,680 RMB paying battery monthly rental for 71.5 months for 75-kwh will be the same as buying car with battery paying battery monthly rental for 76 months for 100-kwh will be the same as buying car with battery https://cnevpost.com/2023/06/15/nio-launches-et5-touring/ NIO Launches Battery as a Service https://www.nio.com/news/nio-launches-battery-service MY view is renting the lowest capacity battery for 99% of your vehicle journeys and paying extra for 1 month and doubling the capacity of the battery especially if your driving during a public holiday and the option of upgrading after 6 years with zero battery degradation does sound appealing I think in the future Insurance companies will have to have a separate criteria on Battery degradation for owners that either rent their batteries or have modular batteries such as the MG ZS which just needs to change a single battery modular that is failing rather than the entire battery

That article is from March 2023 This article is from September 2023 OIC issues EV car insurance Effective January 2024, Effective 1 Jan. 2024 Mr. Apakorn said Last week the principles were already presented to Dr. Suthiphon Thaweechaikarn, Secretary-General of the OIC. It is expected that this will be summarized as an announcement by the Registrar in September. It will start using the EV car insurance policy. From 1 January 2024 onwards “Because it is new. There will be a connection in the system. Whether it is the public, manufacturers, dealers, sales channels. Insurance companies and the Office of the OIC must understand each other all over again. It will take at least 3 months.” https://www.prachachat.net/finance/news-1384213

I have already explained to @Bandersnatch I am not an EV hater but equally I am not someone that take's much notice to a social media influencer can't cope with negative feedback This is why people that are interested in EV's have no time for social media influencer who throw they toys out of their prams because someone posts concerns about EV's it is my intention to purchase an EV in 2028 when all early issues have been sorted out At the moment I see news that SAIC has launched Battery swapping stations in China , hopefully they will develop that model for other countries https://cnevpost.com/2023/07/17/rising-auto-to-add-over-50-swap-stations-year-end/ SAIC have already stated that MG will have swappable batteries Or wait for Nio to enter the Thailand market

Those discussions have already taken place in March of this year EV car insurance premiums have a solution. EV Association joins with 8 companies to discuss OIC. March 13, 2023, Mr. Kritsada Uttamote, President of the Thai Electric Vehicle Association, along with representatives from 8 car manufacturers, including SAIC Motor-CP Co., Ltd., Great Wall Motor Sales Co., Ltd. ( Thailand) Co., Ltd., Neta Auto Thailand Co., Ltd., Nissan Motor (Thailand) Co., Ltd., Mitsubishi Motors (Thailand) Co., Ltd., BMW (Thailand) Co., Ltd., Volvo Car (Thailand) Co., Ltd. https://www.prachachat.net/economy/news-1230190 When it states OIC approves EV car insurance criteria, D-Day January 2024 it sorts of means its a done deal

And Both articles headlined the date Effective from 1 January 2024 onwards https://www.prachachat.net/finance/news-1384213 and the sliding scale article is just 8 days old https://ev.iphonemod.net/office-of-insurance-commission-aprrove-bev-insurance-for-2024/ As for USA EV insurance $2300 or B80,000 for a 2023 Nissan Leaf S seems expensive to me but at least it cheaper than a 2023 Tesla model S at a whopping $4762 or B1,64788. Electric cars tend to be more expensive when it comes to average insurance costs as well, though it varies by a vehicle’s make, model and year. The national average cost of full-coverage car insurance in 2023 is $2,024 per year. Coverage costs for the electric vehicles on this list are higher than the national average by anywhere from 10% to 135%. https://www.marketwatch.com/guides/insurance-services/future-of-car-insurance-rise-of-evs/

it did state minimum compensation of 50% (over 5 years old) and the OIC is part of the Thai Goverment and these changes start in 8 days time

The Office of Insurance Commission is the regulator of Thailand’s insurance industry operating under the supervision of the Thai Minister of Finance. So it is the Thai government that is defining the EV car insurance criteria from January 1st 2024 including the sliding scale 10% policy on batteries There must be a reason behind defining a new and separate insurance criteria for EV's only As for you finding the find the Chinese article suspect, it's talking about one company only. its the only article I could find in English if you do a search in chinese you will find its more than one company here a quote from another company "The accident rate of new energy vehicles is nearly twice that of fuel vehicles." Zeng Yi, general manager of China Pacific Insurance Company, said bluntly.

Sliding scale for Battery insurance coverage from Jan 1st 2024 In this new electric car insurance criteria There is separate protection for the battery from the car. In the event that the electric car battery is damaged to the point of having to replace the entire battery set with a new one The insurance company will pay compensation for electric vehicle batteries according to the life of the battery. In the first year (not more than 1 year), compensation will be 100% and the compensation rate will be reduced by 10% per year, with a minimum compensation of 50% (over 5 years old). https://ev.iphonemod.net/office-of-insurance-commission-aprrove-bev-insurance-for-2024/

New EV insurance model to be launched in Thailand January 1st 2024 OIC approves EV car insurance criteria, D-Day January 2024, collects driver history Set up a policy that specifies the names of all drivers “Of course, the time of the incident in the first year and the incident in the fifth year, the amount of liability Batteries are not equal. But the policy will have an option to give the insured the opportunity to receive full compensation. Or you can change to a new one instead. There will be an attached document where you can voluntarily purchase additional insurance.” https://www.prachachat.net/finance/news-1384213 I think its safe to say that Insurance premiums for EV's will increase either via the main policy or via additional insurance policy that covers just the battery

In the UK and China countries that have seen a large surge in new energy vehicles there seems to be a trend of insurance companies no longer willing to accept new business or renewals of new energy vehicles In China BEV are bundle into a category called new energy vehicles which consists of the government stipulates that new energy vehicles include three categories: pure electric vehicles (EV), plug-in hybrid electric vehicles (PHEV), and fuel cell vehicles (FCEV) There are some insurance companies that are still willing to accept new business or renewals of new energy vehicles but only with higher insurance premiums or additional insurances attached to the main policy such as seat insurance ( vehicle occupants liability insurance ) The refusal of no longer accepting accept new business or renewals of new energy vehicles seems to be a 2023 trend in previous years there doesn't seem to be an issue Ping An Property Insurance Company's car insurance telephone customer service also told reporters: "In the event of a collision of fuel vehicles, the amount of individual parts should be as much as possible; the collision of new energy vehicles often damages not only one part, but the whole is broken, so the amount of compensation will be higher." Therefore, the car insurance sector of new energy vehicles is not profitable, and all of them are losing money, so insurance companies are now able to do not do it. ” https://www.laitimes.com/en/article/68kom_6owzh.html

Electric vehicles: insurers balk at battery fires and write-offs Higher insurance prices make EVs less attractive to consumers

If we look at the Uk as an example EV insurance in 2022 was at a reasonable cost for the UK but as the numbers of new EV's were being registered almost almost 270,000 new vehicles insurance premiums have increased In the Facebook group, members share stories of horror renewal quotes, with increases ranging from 60% (up to £1,100) to a staggering 940% (a jump from £447 to £4,661, according to a screengrab shared by one driver). Analysts say claims costs are 25% higher for electric cars, and that they also take about 14% longer to repair than a diesel or petrol equivalent. The cost and availability of parts is a factor, explains Paul Baxter, the chief executive of the new brand the Green Insurer. There is also concern around the batteries, and that damage, especially to the underside, can be expensive to fix. https://www.theguardian.com/money/2023/sep/30/the-quotes-were-5000-or-more-electric-vehicle-owners-face-soaring-insurance-costs the jump of £447 ( B20,000) to £4,661 (B209,745 is huge

This guy has already stated He expressed his concern that many insurance companies in Thailand were currently competing to offer the most affordable rates in order to attract the majority of EV car owners. The move, he believes, is lacking in prudence and overlooks the EV's loss ratio. https://www.nationthailand.com/business/corporate/40033774 I think he his indicating a potential rerun of the Covid insurance fiasco but next time it will be EV insurance fiasco

New cars prices start from B500,000 most new cars will include 1 years car insurance Neta V for example as shown here https://www.neta.co.th/en/promotion/promotion_ExclusiveDeal https://www.facebook.com/NetaAutoThailand If your only interested in a city car and not planning long trips check out Volt and Wuling prices start from B375,000 last time i looked https://www.wulingthai.com/booking/air-ev Used Car market is in early stages of development in Thailand Byd has announce an inspection service for car sellers and buyers there was an announcement they are planning to start selling used cars sometime in 2024 https://mgronline.com/motoring/detail/9660000071390 Biggest problem at the moment for used electric cars in Thailand is for some reason Banks and Finance companies when applying for finance for used electric cars answer is computer says no They offer finance for new EV's but not for Used EV's Most of the Facebook groups pages state impossible to get finance for used EV's I am sure their will be a used car market for EV's in the future Majority of cars are purchased in Thailand using finance