BLOOMBERG Thailand will allocate 34 billion baht ($970 million) through to 2027 to fund its ambition of becoming a major production hub for electric vehicles, renewing a flagship incentive program in the Southeast Asian nation. Foreign EV makers will be eligible to receive up to 40% cuts on import duties and a reduced excise tax rate of 2% for their ...

BLOOMBERG Chinese electric carmaker Nio Inc unveiled a flagship sedan at its annual customer event, with the vehicle set to take on Porsche AG’s Panamera series and Mercedes-Benz Group AG’s luxury S range. The four-seater executive sedan dubbed ET9 is expected to start delivery in the first quarter of 2025, with an estimated starting price at around 800,000 yuan ($112,000). ...

BLOOMBERG Party City Holdco Inc’s bankrupt balloon-manufacturing affiliate, Anagram Holdings, is close to striking an agreement with the retail chain and won court permission to sell the unit to lenders. Anagram lawyer Nicholas Baker said during a court hearing that the firm is optimistic it will be able to finalise the settlement with its parent company in the coming days. ...