- Mercedes Benz Group ADR (OTC:MBGYY) has reportedly agreed with the Thailand government to import its battery-powered cars.
- The move, Bloomberg reported, is part of Thailand’s plan to boost its image as a green auto hub.
- Mercedes, in turn, will receive benefits like lower import duties and excise taxes for each fully electric car imported by its Thailand unit through 2023.
- The report added that Mercedes also committed to manufacturing electric cars in Thailand in its facility in Samut Prakan province.
- Thailand has become the latest competition ground for international EV makers.
- The report noted that Chinese automaking giant BYD (OTC:BYDDY) has started to sell its first electric SUV’s in Thailand, and Tesla Inc (NASDAQ:TSLA) has opened bookings for two of its models.
- The Thailand government aims to make 30% of its car sales electric by 2030.
- The country boasts of an extensive automotive supply chain that has Toyota Motor Corp (NYSE:TM), Ford Motor Co (NYSE:F), and Honda Motor Co (NYSE:HMC) as its clients.
- Price Action: MBGYY shares closed higher by 0.36% at $16.64 on Thursday.
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Mid Penn Bancorp Q3 EPS $0.97 Up From $0.86 YoY
Mid Penn Bancorp (NASDAQ:MPB) reported quarterly earnings of $0.97 per share. This is a 12.79 percent increase over earnings of $0.86 per share from the same period last year.
