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Agoda: Thai Couples Lead Asia in Domestic Travel for Valentine’s Day

BANGKOK, Feb. 13, 2025 /PRNewswire/ — Agoda reveals Thai couples to be leading in domestic travel compared to couples from other Asian markets this Valentine’s Day. Thai couples are followed by those from Japan and the Philippines, following in second and third place, respectively.

This year, Valentine’s Day falls on a Friday, providing a great opportunity for a weekend getaway. The most popular domestic destinations are Bangkok, Pattaya, Chiang Mai, Khao Yai (a newcomer in the rank), and Hua Hin. In 2024, Bangkok, Pattaya, and Chiang Mai also held the top three positions, but were then followed by Hua Hin and Phuket, respectively.

For international travel, the top destinations for Thai couples this year are Tokyo, Hong Kong, Singapore, Taipei, and Osaka. Tokyo maintains its number one spot.

Pierre Honne, Country Director Thailand at Agoda, shared: “Valentine’s Day may not be a public holiday, but it’s a special time for couples to celebrate with loved ones. Whether through a romantic dinner or a weekend getaway, it is a great reason to travel. This year especially since Valentine’s Day falls on a Friday. Agoda offers great value deals for flights, accommodations, and various travel activities to help couples celebrate the day of love with joy and memorable experiences.”

For couples planning Valentine’s Day travel, Agoda provides access to over 5 million accommodations, more than 130,000 flight routes, and over 300,000 activities, all available on the platform. Download the Agoda app for the latest special deals or visit www.agoda.com/deals.

Antengene Announces XPOVIO® Approved for Public Health Insurance Coverage in Taiwan Market, Benefiting More Patients with R/R MM in the Region

  • XPOVIO® is the first XPO1 inhibitor approved in Taiwan for the treatment of adult patients with relapsed/refractory multiple myeloma (R/R MM).
  • After the mainland of China, South Korea, Australia and Singapore, Taiwan market is the fifth APAC market in which XPOVIO® has been approved for public health insurance coverage.
  • XPOVIO® is expected to extend public health insurance coverage across APAC markets.

SHANGHAI and HONG KONG, Feb. 13, 2025 /PRNewswire/ — Antengene Corporation Limited (“Antengene“, SEHK: 6996.HK), a leading innovative, commercial-stage global biopharmaceutical company dedicated to discovering, developing and commercializing first-in-class and/or best-in-class medicines for cancer, today announced that XPOVIO® (selinexor) in combination with bortezomib and dexamethasone (XVd) for the treatment of adult patients with relapsed/refractory multiple myeloma (R/R MM) who have received at least two prior therapies, has been approved for reimbursement in Taiwan. Starting from March 1, 2025, XPOVIO® will be officially included in the NHI drug reimbursement scheme.

With a novel mechanism of action, XPOVIO® is the world’s first approved orally-available, selective XPO1 inhibitor, which has already been approved in nine countries and regions in APAC, and included in the public insurance schemes in five of those markets (the mainland of China, Taiwan market, Australia, Singapore and South Korea). Moving forward, XPOVIO® is expected to extend public health insurance coverage across APAC markets.

Multiple myeloma (MM) is a malignancy caused by the dysregulated proliferation of plasma cells. According to epidemiology data, MM is the second most prevalent hematologic malignancy in Taiwan market, accounting for approximately 700 to 800 newly diagnosed cases and around 400 relevant deaths each year.[1] Most patients with MM have to face a range of challenges in treatment, including high propensity to relapse, short period of survival, and limited treatment options. The inclusion of XPOVIO® for reimbursement coverage in Taiwan market, will further reduce the financial burden on many patients, benefiting more patients and their families.

While bringing XPOVIO® to more APAC markets, Antengene is also striving to expand the indications of XPOVIO®. Leveraging the drug’s novel mechanism of action, XPOVIO® is currently being developed with multiple combination regimens for the treatment of various additional indications including myelofibrosis (MF) and endometrial cancer.

About XPOVIO® (selinexor)

XPOVIO® is the world’s first approved orally-available, selective inhibitor of the nuclear export protein XPO1. It offers a novel mechanism of action, synergistic effects in combination regimens, fast onset of action, and durable responses.

By blocking the nuclear export protein XPO1, XPOVIO® can promote the intranuclear accumulation and activation of tumor suppressor proteins and growth regulating proteins, and down-regulate the levels of multiple oncogenic proteins. XPOVIO® delivers its antitumor effects through three mechanistic pathways: 1) exerting antitumor effects by inducing the intranuclear accumulation of tumor suppressor proteins; 2) reducing the level of oncogenic proteins in the cytoplasm by inducing the intranuclear accumulation of oncogenic mRNAs; 3) restoring hormone sensitivity by activating the glucocorticoid receptors (GR) pathway. To utilize its unique mechanism of actions, XPOVIO® is being evaluated for use in multiple combination regimens in a range of indications. At present, Antengene is conducting multiple clinical studies of XPOVIO® in the mainland of China for the treatment of relapsed/refractory hematologic malignancies and solid tumors (3 of these studies are being jointly conducted by Antengene and Karyopharm Therapeutics Inc. [Nasdaq:KPTI]).

About Antengene

Antengene Corporation Limited (“Antengene”, SEHK: 6996.HK) is a leading commercial-stage R&D-driven global biopharmaceutical company focused on the discovery, development, manufacturing and commercialization of innovative first-in-class/best-in-class therapeutics for the treatment of hematologic malignancies and solid tumors, in realizing its vision of “Treating Patients Beyond Borders”.

Since 2017, Antengene has built a pipeline of 9 oncology assets at various stages going from clinical to commercial, including 6 with global rights, and 3 with rights for the APAC region. To date, Antengene has obtained 31 investigational new drug (IND) approvals in the U.S. and Asia, and submitted 10 new drug applications (NDAs) in multiple Asia Pacific markets, with the NDA for XPOVIO® (selinexor) already approved in Mainland of China, Taiwan China, Hong Kong China, Macau China, South Korea, Singapore, Malaysia, Thailand and Australia.

Forward-looking statements

The forward-looking statements made in this article relate only to the events or information as of the date on which the statements are made in this article. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. You should read this article completely and with the understanding that our actual future results or performance may be materially different from what we expect. In this article, statements of, or references to, our intentions or those of any of our Directors or our Company are made as of the date of this article. Any of these intentions may alter in light of future development. For a further discussion of these and other factors that could cause future results to differ materially from any forward-looking statement, please see the other risks and uncertainties described in the Company’s Annual Report for the year ended December 31, 2023, and the documents subsequently submitted to the Hong Kong Stock Exchange.

Reference

  1. 2019 Cancer Registry Annual Report, Health Promotion Administration of Taiwan Ministry of Health and Welfare

For more information, please contact:

Investor Contacts: 
Donald Lung
E-mail: Donald.Lung@antengene.com  
Mobile: +86 18420672158

PR Contacts:
Peter Qian
E-mail: Peter.Qian@antengene.com 
Mobile: +86 13062747000

Gaotu Techedu to Report Fourth Quarter and Fiscal Year 2024 Financial Results on February 26, 2025

BEIJING, Feb. 13, 2025 /PRNewswire/ — Gaotu Techedu Inc. (“Gaotu” or the “Company”) (NYSE: GOTU), a technology-driven education company and online large-class tutoring service provider in China, today announced that it will report its financial results for the fourth quarter and fiscal year 2024 ended December 31, 2024, before U.S. markets open on Wednesday, February 26, 2025.

Gaotu’s management will hold an earnings conference call at 8:00 AM U.S. Eastern Time on Wednesday, February 26, 2025 (9:00 PM on the same day, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows:

International:

+1-412-317-6061

United States:

+1-888-317-6003

Hong Kong:

800-963-976

Mainland China:

400-120-6115

Passcode:

2778362

A telephone replay will be available two hours after the conclusion of the conference call through March 5, 2025. The dial-in details are as follows:

International:

+1-412-317-0088

United States:  

+1-877-344-7529

Passcode:

4036127

Additionally, a live and archived webcast of this conference call will be available at https://ir.gaotu.cn/home.

About Gaotu Techedu Inc.   

Gaotu is a technology-driven education company and online large-class tutoring service provider in China. The Company offers learning services and educational contents & digitalized learning products. Gaotu adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates every aspect of the Company’s business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency.

For further information, please contact:

Gaotu Techedu Inc.
Investor Relations
E-mail: ir@gaotu.cn

Christensen

In China
Ms. Alice Li
Phone: +86-10-5900-1548
E-mail: gotu@christensencomms.com 

In the US
Ms. Linda Bergkamp
Phone: +1-480-614-3004 
E-mail: linda.bergkamp@christensencomms.com 

Government Assures No Social Media Shutdown After Panic Over Foreign Internet Restrictions

Government Assures No Social Media Shutdown After Panic Over Foreign Internet Restrictions
This image is used only for representational purpose (photo credit: allconnect)

The Ministry of Technology and Communications has released a clarification following widespread panic among Lao citizens about the potential shutdown of social media platforms in the country.

Mitel Applauded by Frost & Sullivan for Digitizing Crisis Management to Foster Resilience and Enhance Continuity with its Robust Critical Event Management (CEM) Solutions

Mitel CEM consolidates risk intelligence, communication, and operational workflows into a single dashboard to streamline decision-making and ensure a coordinated response to any event.

SAN ANTONIO, Feb. 13, 2025 /PRNewswire/ — Based on a recent assessment of trends and developments in the critical event management communications industry, Frost & Sullivan recognizes Mitel with the 2025 European Enabling Technology Leadership Award. The company is a North American leader in hybrid unified communications (UC) and customer experience (CX), bridging the benefits of on-premise and rapidly evolving cloud technology. Mitel has integrated its UC platform with Everbridge’s CEM capabilities through a strategic partnership to deliver innovative, customer-centric solutions that enable responsive, personalized, and secure experiences, strengthening its CEM market position. For example, an airline seeking to improve communication about flight changes and alternative travel options during adverse weather conditions, for instance, could benefit from a solution combining CEM and UC technologies. Mitel CEM, an integration of Everbridge’s advanced CEM platform with Mitel’s value-added services like Discovery Services, allows for digitization of crisis management, fostering resilience and enhancing continuity through hybrid CEM.

Mitel CEM, equipped with advanced risk intelligence, helps organizations identify potential threats before they escalate, delivering timely alerts and actionable insights. Its robust communication features ensure all stakeholders—including employees, customers, and emergency responders—remain informed and connected via multi-channel communication. Real-time collaboration capabilities enable teams to coordinate effectively, enhancing incident response and resolution. Mitel’s CEM services assist clients in their digital transformation journey by providing insights into their current readiness, engaging key stakeholders across functions, prioritizing use cases, conducting gap analyses, and offering recommendations customized to each organization’s specific needs. Mitel’s CEM platform delivers a comprehensive suite of capabilities typically found in separate products, offering a unified solution that surpasses many competitors. Its cloud-based nature serves as a significant advantage. The development process is collaborative, involving Everbridge, and is designed to incorporate ongoing feedback while adapting to evolving customer needs.

Chris Pennell, Industry Principal, Frost & Sullivan, observed “Mitel’s CEM offering tackles essential challenges related to digital transformation, operational efficiency, response times, and the enhancement of experiences for both employees and customers. With its flexible deployment options, interoperability, and adherence to regulatory compliance, Mitel’s CEM is highly versatile and suitable for various sectors, including healthcare, transportation, public services, and government. Its adaptable structure supports a wide range of use cases across these industries.”

Mitel’s CEM solution can integrate with current communication systems, such as phone systems and email servers, to facilitate rapid and efficient communication during a crisis. This integration enables organizations to quickly share critical information with employees, customers, and other stakeholders, regardless of their location or preferred communication channel. It also integrates with third-party applications, such as social media platforms and weather services, to gather real-time information about various situations and communicate updates to the public. This integration helps organizations stay informed about the latest developments and maintain transparent communication. When integrated with Mitel’s broader UC portfolio, this solution enhances real-time coordination during critical events and provides a fully integrated communications approach. It also supports industry innovation and fosters the adoption of CEM across different industries. Solutions like Mitel’s OpenScape Xpert integrate voice, video, and data into a seamless system tailored for high-pressure industries such as healthcare, logistics, and manufacturing, empowering teams to share information, coordinate effectively, and make swift decisions. Mitel’s OpenScape Alarm Response further supports critical situations by managing alarm notifications, messaging, escalations, and responses efficiently.

“Mitel’s CEM solution delivers value through features like automated notifications, proactive maintenance, and workflow integration. These features lead to improved compliance, reduced risks, and enhanced crisis response capabilities. Mitel’s adaptable cloud-enabled CEM solutions offer flexibility, cost-efficiencies, real-time data integration, and interoperability with existing systems and third-party applications,” added Chris. The company’s enhanced situational awareness and optimized communication solutions help organizations respond swiftly and comprehensively to evolving challenges and critical events. Mitel’s strong overall performance has earned it Frost & Sullivan’s 2025 European Enabling Technology Leadership Award in the critical event management communications industry.

Each year, Frost & Sullivan presents this award to a company that has developed a pioneering technology that not only enhances current products, but also enables the development of new products and applications. The award recognizes the high market acceptance potential of the recipient’s technology. Read more about the European Critical Event Management Communications Industry Excellence in Best Practice.

Mitel’s Chief Marketing Office, Eric Hanson, shared, “At Mitel, we understand that every moment counts during a critical event. Frost & Sullivan’s recognition offers valuable affirmation of our dedication to providing solutions that connect people and empower organizations in highly regulated markets to act quickly, communicate clearly, and collaborate effectively under pressure.”

Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact us: Start the discussion.

Contact:

Lindsey Whitaker
E:Lindsey.Whitaker@frost.com

CGS International Successfully Concludes ASEAN Investment Challenge 2024 with Malaysian Winner

ASEAN Investment Challenge (AIC) 2024 brings together more than 5,000 higher education students for an insightful journey into responsible investing

KUALA LUMPUR, Malaysia, Feb. 13, 2025 /PRNewswire/ — International Islamic University Malaysia’s Azre Nazerul Rahman clinched first place at CGS International Securities (CGS International)’s annual AIC 2024. The competition brought together top teams from Malaysia, Indonesia, Singapore, and Thailand – collectively known as M.I.S.T – who faced off in a high-stakes finale held at Bursa Malaysia in Kuala Lumpur on 13 February.

Finalists of AIC 2024 at Bursa Malaysia in Kuala Lumpur
Finalists of AIC 2024 at Bursa Malaysia in Kuala Lumpur

Contestants presented their investment strategies before a panel of judges comprising professionals from each country’s stock exchange. After a rigorous assessment, the champion walked away with a grand prize of over S$20,000.

Mr Kevin Lee, Group Head of Sustainability of CGS International, said: “AIC 2024 has once again highlighted the potential of our future leaders in finance. We hope their 8-month journey with AIC has provided them with a solid foundation in lifelong financial management skills, including the incorporation of ESG in their investment practices. Through initiatives such as AIC, CGS International is dedicated to empower the communities for a more sustainable tomorrow.”

The final placings for AIC 2024 are as follows:

  1. Malaysia: Azre Nazerul Rahman, International Islamic University Malaysia
  2. Indonesia: Ali Alexander, Universitas Gadjah Mada
  3. Singapore: Team Scoop, Republic Polytechnic
  4. Thailand: Naradith Aparprasith, King Mongkut’s Institute of Technology Ladkrabang

Carol Fong, Group CEO of CGS International, said: “Looking at the talent here today, I am reminded of the significance of AIC as a beacon to build the next generation of finance leaders.

My heartiest congratulations to our four teams who made it to the finals. They stood out from over 5,000 participants with their thoughtful, innovative investment strategies – showing not just a sound grasp of market principles, but also a good knowledge of sustainable and responsible investing. In the end, Azre Nazerul from Malaysia excelled with his holistic investment strategy and impressive presentation.”

This year’s challenge saw the participation of over 5,000 students from 500 institutions of higher learning in M.I.S.T. Notably, AIC is the only investment challenge backed by all four local stock exchanges: Bursa Malaysia, Indonesia Stock Exchange, Singapore Exchange, and the Stock Exchange of Thailand.

A key highlight of AIC 2024 was the introduction of a new judging element, which evaluated participants’ portfolio performance against benchmark returns, offering a fresh perspective on investment success.

CGS International aims to encourage sustainable investing amongst the new generation. The Challenge imparts investment fundamentals, including ESG investing and risk management. The participants receive practical training in addition to theory lessons from CGS International’s investment experts. Winners are also offered internships with the Group to put their new skills to practice, making it a truly holistic learning experience.

Azre Nazerul, International Islamic University Malaysia and AIC 2024 winner, said: “Like so many of my peers, I have wanted to start investing for a while but lacked the know-how. Hence, when AIC came to our school, many of us took the chance to learn. Throughout the challenge, CGS International provided us with many tools and resources to hone our investment skills. I really appreciated the opportunity to try our hand at investing without having to take on any actual risks. With the benchmark returns as part of the judging criteria this year, we could also tell how well our portfolios performed against industry benchmarks. This was immensely useful in our own performance evaluation.”  

The next AIC will be launched on 8 April 2025 at the ASEAN Investment Conference in Kuala Lumpur, Malaysia.

About the ASEAN Investment Challenge

The ASEAN Investment Challenge (AIC) is CGS International’s flagship youth programme to empower students with knowledge in sustainable investing and contribute to the building of strong capital markets in the future. CGS International’s corporate social responsibility (CSR) initiatives align with the United Nations Sustainable Development Goals (UNSDGs) framework and global and national agendas. The AIC, in particular, embodies Goal 4, which focuses on ensuring inclusive and equitable quality education and promoting lifelong learning opportunities for all.    

CGS International is committed to becoming a catalyst for positive change, and empowering students to become conscientious contributors to sustainable investment practices. The AIC stands as a beacon for the future of finance, cultivating the next generation of responsible and knowledgeable investors.

About CGS International Securities

CGS International Securities Pte. Ltd. (CGS International) is an award-winning and market leading integrated financial services provider, ranked among the top securities houses in Asia.

CGS International taps on our wealth of global and ASEAN insights to offer equities trading, leveraged products, wealth management, investment banking, equities research, Shariah-compliant financing, fixed income, currency and commodities, structured products and prime brokerage services in over 15 countries and regions.

Find out more at www.cgsi.com.  

Annex A: List of Judges of ASEAN Investment Challenge 2024

Country

Name

Title and Organisation

Singapore

Mr James Mckeone

APAC Regional Head

Nasdaq

Ms Emelia Tan Wan Yi

Head of SGX Academy (Financial Literacy)

Singapore Exchange

Ms Carol Fong

GCEO

CGS International Securities 

Mr Kevin Lee

Group Head, Sustainability

CGS International Securities

Malaysia

Ms Law Mei Chi

Vice President / Head, Research and Marketing, Investor Strategy and Development

Bursa Malaysia

Ms Azizah Mohd Yatim

CEO

CGS International Securities Malaysia

Indonesia

Mr Rony Suniyanto Djojomartono

Head of Index and ESG Business Development Unit

Indonesia Stock Exchange

Thailand

Ms Nareerat Santhayati

Head, Sustainable Investment Department

The Stock Exchange of Thailand

 

Ampace & TDK to Showcase Cutting-Edge Energy Solutions at Tokyo Smart Energy Week 2025

TOKYO, Feb. 13, 2025 /PRNewswire/ — The global energy sector is gearing up for one of the most anticipated events of the year. From February 19 to 21, 2025, Ampace and TDK will jointly exhibit at Tokyo Big Sight (Booth E62-18, East Hall 6) during Smart Energy Week, the largest energy exhibition in Asia.

This time, Ampace will showcase its full-stack energy storage solutions, including market-leading home energy storage, intelligent UPS for data centers, award-winning portable power supplies, and commercial and industrial energy storage solutions. These products aim to drive growth in the new energy sector.

Strategic Alliance for Technological Advancement

Ampace, specializes in medium-sized lithium-ion battery solutions for new energy applications with exceptional safety, reliability, and longevity. TDK, a global leader in electronic materials and components, offers strong localized support in Japan.

Since 2022, Ampace and TDK have been working closely to introduce industry-leading ESS solutions for residential, commercial, and smart grid applications. As of 2024, their combined expertise has secured the No.1 market share in Japan’s home ESS sector, with Ampace’s high-performance products and TDK’s expert team at the TDK’s facility (Nagano Pref.) providing full-lifecycle technical and after-sales support.

Commitment to Sustainability

Ampace has established a comprehensive ESG framework spanning the entire supply chain. Through the “Triple-Ring Governance” model—Environmental Compliance (ISO 14001), Social Responsibility (ISO 45001), and Governance (ISO 27001 & 100% Integrity Agreement Rate)—the company is leading its supply chain towards a green and fair transition. Under this system, Ampace has earned the 2024 EcoVadis Bronze Medal, established a low-carbon park, and achieved 26.29MWp rooftop solar generation for self-consumption.

In Japan, this ESG commitment translates into tangible action: TDK’s nationwide waste management certification enables efficient and reliable battery recycling supply chain optimization. This synergy between environmental impact and commercial success has been key to dominating Japan’s home ESS market.

With TDK’s localized after-sales support system, customers can receive full lifecycle local technical and after-sales support, said the Technical Director of Ampace Japan. This combination of technical strength and service excellence reflects Ampace and TDK’s commitment and determination to deeply cultivate the Japanese market.

Ampace & TDK invite global partners to Booth E62-18 at Tokyo Big Sight to explore the future of zero-carbon energy solutions.

Mazda Motor Corp. to Invest 5 Billion Baht to Make Thailand its Electrified Compact SUV Manufacturing Hub

BANGKOK, Feb. 13, 2025 /PRNewswire/ — During a meeting with Thailand’s Prime Minister, Ms. Paetongtarn Shinawatra, in Bangkok today, Mr. Masahiro Moro, President and CEO of Mazda Motor Corporation announced that the company will invest an additional 5 billion baht (ca US$150 million) in the country to establish Thailand as the manufacturing hub of its electrified compact sport utility vehicle (SUV) product line, for sales in the domestic as well as export markets, a move that reaffirms Mazda’s commitment and strong relationship with Thailand. 

Mazda Motor Corporation is investing ฿5 billion (US$150M) to make Thailand a manufacturing hub for its electrified compact SUVs. The investment will enhance production lines, support hybrid and EV technology, with a production capacity of 100,000 units annually, aimed at both domestic and international markets.
Mazda Motor Corporation is investing ฿5 billion (US$150M) to make Thailand a manufacturing hub for its electrified compact SUVs. The investment will enhance production lines, support hybrid and EV technology, with a production capacity of 100,000 units annually, aimed at both domestic and international markets.

“Mazda’s investment in an electrified compact SUV marks a significant step forward, and the start of a gradual transition to xEV production. With an additional investment of over 5 billion baht, Mazda aims to establish Thailand as the manufacturing hub for its electrified compact SUV products,” Mr. Moro said. “The vehicles to be produced will be high performance compact SUVs that meet international standards, both in terms of environmental friendliness and hybrid technology. This large-scale comprehensive production investment is to support domestic sales and exports to Japan and other countries, such as ASEAN countries, targeting a production of 100,000 units per year.”

“The announcement by Mazda Motor Corporation is a significant investment in the continued development of Thailand as a manufacturing hub for all segments of the automotive industry, and a great endorsement of our policies to support electrification in the sector, including all types of hybrid technology,” Mr. Narit Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI) who is also the secretary of the National Electric Vehicle Policy Committee (EV Board), said after the meeting. “Mazda’s commitment to Thailand, and its confidence in the country’s capabilities, comes just ahead of the roadshow the BOI will conduct in Japan next week and clearly demonstrates the potential for more Japanese investment in Thailand in the auto as well as other tech sectors.”

Mazda, which has had a presence in Thailand’s car market for over 70 years, has two manufacturing plants in the country, namely AutoAlliance (AAT), established in 1995 to produce passenger cars and commercial vehicles for both domestic and export sales, and Mazda Powertrain Manufacturing Thailand (MPMT), established in 2015 to produce engines and automatic transmission systems.

The additional investment announced today will focus on the key areas in both the AAT and MPMT plants, enhancing the vehicle production and assembly line to support future electrified products, and the production of engines, automatic transmissions, and powertrains, as well as the key components of electrified vehicles, including batteries. In addition, Mazda will continue to develop its local supplier network to enhance production capabilities and support future technologies which are significantly contributing to the development of Thailand’s automotive industry, and economy.

“The investment marks a significant beginning for Thailand as a manufacturing hub for producing Mazda’s electrified vehicles according to our “Multi-Solution Approach” and a crucial step towards sustainability, in line with Mazda’s mission to bring about a sustainable earth, society, and people,” Mr. Moro said.

The BOI announced last month that applications for investment promotion in 2024 soared 35% in value to 1.14 trillion baht (ca. USD 33 billion), the highest level since 2014, led by large foreign direct investment (FDI) projects in data centers, cloud services, as well as semiconductor and advanced electronics manufacturing. The automotive and parts sector ranked third in terms of the value of applications with 309 projects, worth a combined 102.4 billion baht.

Thailand has long been a hub in the conventional internal combustion engine (ICE) auto industry, ranking 10th in the world and number one in Southeast Asia as a manufacturer in 2023. Since it started promoting investment in the sector’s electrification, with government policies offering subsidies, tax breaks and other incentives to manufacturers and consumers, the country has attracted significant investments in the production of electric vehicles (EV) and hybrids.

For more information, please contact:
Thailand Board of Investment
Tel. +66 (0) 2553 8111
Website: www.boi.go.th
YouTube: Think Asia, Invest Thailand