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Researchers laud Thailand’s potential in becoming regional EV hub

TUESDAY, NOVEMBER 29, 2022

Nongluck Ajanapanya

Though Thailand came in ninth among 15 countries in terms of readiness to adopt electric vehicles, it still has a very good potential to become an EV manufacturing hub soon.

Thailand’s potential was unveiled on Tuesday at the release of Arthur D Little (ADL)’s report “Unleashing Thailand’s Electric Mobility Potential”.

This report comes after the 15 countries were ranked in ADL’s annual Global Electric Mobility Readiness Index (GEMRIX 2022).

Andreas Schlosser, ADL partner and global chief of the automotive department, told the press that electric vehicles were fast becoming popular with overall usage rising over the past two years.

“Thailand is also well prepared for EVs in terms of market, users, infrastructure, and government,” he said.

However, he pointed out, that though the Thai EV market is growing thanks to government policies and moves to attract investment, there are still many challenges it must address to maintain competitiveness.

Hirotaka Uchida

Hirotaka Uchida, chief of ADL operations in Thailand, said the development of an EV industry is critical for Thailand to maintain its position as the “Automotive Hub of Asia”, and to do that, the government needs to build a stronger EV charging infrastructure and encourage more start-ups to join the EV ecosystem.

He said Thailand lags behind Indonesia in terms of lithium battery production and cannot compete with Vietnam when it comes to funding.

However, he said, Thailand can benefit from its strong foreign allies like China and Japan, which will help the Thai EV industry grow exponentially.

Besides, Thailand’s experience as an internal combustion engine manufacturer has also helped with its transition to becoming an EV engine producer.

“What you need to focus on now is strengthening what you are good at and speeding up the improvement of your EV charging stations and infrastructure to support a wide adoption of EVs among Thai consumers,” Uchida said.

In the report, ADL identified five key challenges in Thailand’s transition to electric mobility. They are:

• Shifting to mixed energy and relevant supplier base
• Competitiveness in the supply of batteries
• Building a charging infrastructure
• Building awareness of carbon neutrality
• Potential in the export market

Akshay Prasad

Akshay Prasad, ADL Southeast Asia’s senior engagement manager, said for Thailand to evolve into an EV ecosystem, all players will have to collaborate across the value chain.

Local players should also establish a Thai EV brand, which will serve as a game changer for the future of Thailand’s auto industry, he said.

“To become a regional EV export hub, Thailand needs to have its own national brand and then it should explore new potential markets like Pakistan, Bangladesh and the Middle East,” Prasad said.

He also advised Thailand to look into battery recycling and continue developing alternative options. He said that though the country lacks nickel, it does have zinc, which is a useful ingredient in making batteries.

Andreas Schlosser

Schlosser backed Prasad’s idea on battery recycling, saying this would ensure that EV batteries do not end up polluting the environment after three to five years of use.

According to the study, the sale of EVs in Thailand should surge by more than 500 times from 1,572 units in 2020 to about 831,161 units by 2030.

By 2030, the report said, Thailand should have 61,000 electric cars and pick-trucks, 763,000 motorcycles and 7,000 buses and trucks.

However, the three ADL representatives said that though these figures are impressive, they are still not sufficient for the country to become an Asean EV hub.

But once Thailand addressed its weaknesses and strengthened its abilities, it can start playing an important role in the global EV ecosystem and be at the forefront regionally.

Meanwhile, Norway took the top spot in this year’s GEMRIX index, followed by China, Germany, Singapore, and the United Kingdom in that order. Thailand held the 9th spot after the United States, Japan, and the United Arab Emirates, while Mexico, India, Brazil, Indonesia, Vietnam and South Africa held up the rear.

The countries were divided into four groups, namely global benchmark, ambitious followers, emerging EV markets and starters.

Nongluck Ajanapanya

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https://www.nationthailand.com/business/corporate/40022575

JKN gets Miss Universe brand ready for listing on NYSE in 2025

TUESDAY, NOVEMBER 29, 2022

After acquiring Miss Universe Organisation (MUO) in October, Thailand’s JKN Global Group Plc (JKN) is now getting ready to have it listed on the New York Stock Exchange (NYSE) by 2025.

MUO has the potential to grow, JKN’s chief executive Jakkaphong “Anne” Jakrajutatip said recently after meeting with business leaders in the retail, hospitality and tourism sectors to build potential alliances and partnerships.

She said the beauty pageant business, especially the Miss Universe brand, has the potential to generate stable revenue, especially in the health and beauty market.

Plus, she said, with 70 years in the beauty pageantry business under its belt, MUO is a well-established global brand. This, she said, gives it a significant advantage in getting listed on the NYSE by 2025, under its new company JKN-Metaverse.

After acquiring MUO on October 25 for 800 million baht, JKN believes the brand will generate growth of at least 40% and prove to be an engine in its drive to become a big player in the global content commerce industry.

To make the Miss Universe brand synonymous with Thailand, Jakkaphong met Yuthasak Supasorn, the governor of the Tourism Authority of Thailand, and Culture Minister Ittiphol Kunplome.

Her proposal was to hold a Miss Universe pageant in Thailand, which has already hosted the pageant three times, in 1992, 2005 and 2018.

The 2022 Miss Universe will be crowned in New Orleans, United States.

“It will be good to host the Miss Universe pageant under the ‘Amazing Thailand’ and ‘Amazing New Chapters’ tourism promotional concepts. This will offer travellers a valuable but different experience,” Yuthasak said.

Separately, as part of its plan to have MUO listed in NYSE, JKN has announced the following streams of income for the brand:

• Franchise fee: Revenue from the country hosting the Miss Universe pageant

• Hosting fee: Revenue from granting the right to host the Miss Universe pageant

• Production fee: Revenue earned from the production of the pageant every year

• Sponsorship fee: Revenue from sponsoring the pageant

• Merchandise and licence fees: Revenue from merchandise and licence of products and services under the Miss Universe brand

• Broadcast fee: Revenue from TV stations across the world broadcasting the contest

• Miss Universe programme and format fee: Revenue from operating shows, such as “Road to the Universe”

• Talent management fee: Revenue from Miss Universe winner’s management

• Ticket sales: Revenue from the sale of contest tickets across all platforms.

Related stories:

• Analyst sees long-term risk for Thai firm after purchase of Miss Universe Organisation
• JKN Global Media (JKN) announces its strategy to be the number one content and commerce company, aiming to generate THB5 billion revenue within three years
• Riding on its success, JKN Global Media sets itself ambitious growth targets

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https://www.nationthailand.com/business/corporate/40022537

Techsauce cooks up new strategy to incubate new start-ups

MONDAY, NOVEMBER 28, 2022

Nongluck Ajanapanya

Techsauce Media, a top knowledge-sharing platform, is partnering with 25 companies to incubate 10 start-ups in Thailand and the region.

The objective is to be part of an ecosystem that seeds start-ups and turns them into engines to drive the Thai economy.

Oranuch Lerdsuwankij, co-founder and CEO of Techsauce Media, said the project was launched after the company realised that funding was the most difficult issue for most start-ups.

As per the Techsauce Start-up Directory, Thai start-ups attracted less investment this year compared to 2021, even though the total value of investments in 2022 had been pushed up by one huge deal.

Data shows that most venture capitalists prefer to invest in start-ups that have grown to some extent instead of those in their early stages.

“This trend is bad for Thailand in the long run,” Oranuch said. “As a tech ecosystem builder, Techsauce has established the Thailand Accelerator project to help start-ups in Thailand and Southeast Asia raise funds and grow their businesses sustainably by using our resources and a global network built over a decade.”

Charle Charoenphan, Thailand Accelerator’s programme director, said the accelerator is one of the key cogs for building an ecosystem of young entrepreneurs across the world. This ecosystem, he said, will help them grow faster in terms of customer base and revenue.

Start-ups interested in joining the accelerator program should be prepared to expand their market in Southeast Asia and already have products or services available. The start-up should also be in the Seed or Pre-Series-A funding stage.

Batch 1 of the project focuses on four business groups: impact and climate, tech, Software as a Service (SaaS), and AI and machine learning technology.

Charle said the programme was not just limited to Thai businesses because Techsauce wants local companies to learn from their foreign counterparts.

This is the first step for the participants to experience true competitiveness as well as widen their outlook, which will help in the development of their business internationally, Charle explained.

Techsauce’s new venture was applauded by nearly all bigwigs in the start-up industry, including Sarun Sutuntivorakoon, Thai Venture Capital Association president; Chinawut Chinaprayoon, executive vice president of Digital Economy Promotion Agency; Yutthana Srisavat, Thai Start-up Association president; and Pariwat Wongsamran, director of Startup Thailand.

At a discussion on “Elevating Start-up Ecosystem”, they agreed that more accelerating and incubating programmes are necessary to boost the number of start-ups and help in their development in Thailand and the region.

Most start-ups in the early stages are weak in doing business, and accelerators usually help them close those gaps.

Meanwhile, Oranuch said those interested have until December 31 to apply and the list of qualified candidates will be announced in January.

Those selected will receive three months of training from world-class mentors before they pitch their ideas to investors in May.

Nongluck Ajanapanya