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In focus
For this edition, we cover:
- Thailand’s EV perks aren’t just about China
- Can Glance AI power InMobi’s US$10 billion dream?
- SG-based Quadria Capital closes US$1b fund for healthcare push
Hello reader,
I was surprised to learn recently that the top-selling car brand in Singapore in the first four months of 2025 was Chinese EV player BYD.
That is a big change for a country where Japanese and European carmakers used to rule the roost. But I suppose I shouldn’t have been surprised – I’ve seen many more BYD units plying the roads here these past few years.
In the same vein, Thailand has seen an influx of Chinese auto brands in recent years, with most of them being pure battery EVs (BEVs). This has rattled Japanese carmakers, who have long dominated the purchases in the kingdom, according to today’s first top story.
This is one reason why Thailand is widening tax incentives to include not just BEVs but also hybrid, plug-in hybrid, and mild hybrid vehicles. While Japanese players lag their Chinese competitors in the BEV space, they are more competitive in the other segments.
The Thai government is also pushing for the EV supply chain to be localized, even as it faces stiff competition from neighboring countries like Indonesia and Malaysia.
In India, a different kind of tech bet is taking shape. My colleague Samreen spoke with InMobi Group co-founder and CEO Naveen Tewari about the company’s bold gamble on Glance AI, a genAI commerce platform quietly built over the past 15 months.
Let’s jump into today’s top stories.
Simon Huang, senior editor
Top Stories
1️⃣ Thailand widens EV perks as Japan-China auto rivalry accelerates
Chinese auto companies are flooding Thailand, a market long dominated by Japanese stalwarts like Toyota. Meanwhile, Malaysia and Indonesia are giving the kingdom a run for its money when it comes to attracting EV manufacturers. These factors have led to Thailand’s decision to expand its EV incentives.
2️⃣ Glance AI wants to style you – and power InMobi’s $10b IPO
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AMPED 2025 Malaysia: One day. One room. Endless opportunities.
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