Jolt in demand for EVs expected at Bangkok International Motor Show from today
Electric vehicle manufacturers from around the world are targeting Thailand as the Bangkok International Motor Show 2023 kicks off today at Challenger Hall, Impact Muang Thong Thani on the outskirts of Bangkok.
Dozens of manufacturers will unveil new models at the 44th motor show, which runs until April 2. Automaking giants like Nissan and Toyota will also be using the fair to gauge Thai demand amid their plans to open EV manufacturing plants in Thailand.
Demand could also be driven up by the fuel crisis and higher prices at the pump.
EV purchases at the Thailand International Motor Expo in December accounted for 15% of total bookings.
On Tuesday, press at the preview event in Bangkok witnessed an impressive showcase of cars, trucks and motorcycles, both fuel engine and electric, from over 40 manufacturers.
Organisers expect sales of electric vehicles at the fair to top last year’s figures, as more consumers become familiar with EV technology and its advantages. Subsidy measures issued by the government have also made prices of electric vehicles more affordable.
The organiser said the Thailand auto industry is slowly recovering to pre-Covid level, with the major problem of parts shortages now being resolved. As a result, total manufacturing output this year should be higher than 2022. Sales are also rising in line with recovery of the economy.
Thirty percent of all vehicles made in Thailand will be EVs by 2030, according to the government’s target.
Meanwhile EV sales will be boosted by a 3-billion-baht budget to fund the subsidy scheme.
The scheme offers purchasers subsidies ranging from 18,000 to 150,000 baht depending on battery capacity.