Minister of Economy, Trade and Industry signs memorandum with Thailand on building supply chains in fields such as EVs. Thailand is also known as the "stronghold of Japanese cars," and a few years ago, Japanese manufacturers accounted for nearly 90% of sales.
However, recently, Chinese manufacturers have been aggressive in EV sales, and in the past year, Japan's market share has fallen below 80%. The memorandum signed this time aims to advance bilateral cooperation in areas such as human resource development, decarbonization of manufacturing processes.