TUESDAY, April 16, 2024
nationthailand

Govt gratified at strong growth in EV industry

Govt gratified at strong growth in EV industry

Caretaker Prime Minister Prayut Chan-o-cha is satisfied with the strong growth of the electric vehicle industry and pleased that foreign countries are interested in making Thailand their production base.

Market demand within the country has also seen significant growth as a result of the supportive measures, including tax incentives, implemented by the government, deputy government spokesperson Trisulee Trisaranakul said.

According to the Federation of Thai Industries (FTI), during the first five months of this year, the number of registered battery electric vehicles (BEVs) in the country reached 33,365, representing a nearly five-fold increase over the same period last year.

Most of the registered vehicles are passenger cars (24,021), followed by motorcycles (8,262), buses (836), three-wheelers (123), trucks (81), and pickups (42). As of May 31, the accumulated total of registered BEVs in Thailand stood at 65,333, according to the FTI.

The government's supportive measures and market growth have instilled confidence in investors, leading them to consider Thailand as a production base. Existing manufacturers are expanding their production capacity, while international investors and exhibitors have shown great interest in Thailand's electric vehicle industry, Trisulee said.

In the Board of Investment (BOI) roadshows held in Germany and France from June 18 to 23, Thailand’s electric vehicle industry received positive responses from industry operators and stakeholders, as did industries involved in electric vehicle components, electronics, medical, and healthcare. Business operators are interested in sourcing products from Thailand to supply the Asian market.

Meanwhile, a BOI delegation is currently in China for the second time this year, as China has shown significant interest in investing in Thailand, particularly in the electric vehicle industry, Trisulee added.

 

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