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FRIDAY, December 01, 2023

Ministry aims for over 1 million EVs on roads by 2025

Ministry aims for over 1 million EVs on roads by 2025
THURSDAY, March 25, 2021

The National Electric Vehicle (EV) Policy Committee under the Energy Ministry on Wednesday set a target of at least 1,055,000 electric vehicles on the roads by 2025, Energy Minister Supattanapong Punmeechaow said.

“This target will comprise 402,000 cars and pickup trucks, 622,000 motorcycles and 31,000 buses and trucks,” he said.

“By 2035, this number should reach 15,580,000 vehicles, or 6,400,000 cars/pickup trucks, 8,750,000 motorcycles and 430,000 buses/trucks.”

The committee also estimated that by 2025 Thailand would produce 1,051,000 vehicles, comprising 400,000 cars/pickup trucks, 620,000 motorcycles and 31,000 buses and trucks. By 2035 total domestic production is expected to reach 18,413,000 vehicles – 8,625,000 cars/pickup trucks, 9,330,000 motorcycles and 458,000 buses/trucks.

“We believe that by 2025 the price of electric vehicles will be the same as internal combustion vehicles, which will exponentially boost demand and make Thailand one of the global manufacturing bases of electric vehicles and related parts,” Supattanapong added.

The committee meeting on Wednesday also appointed four subcommittees responsible for EV-related issues – the development of EV infrastructure, tax and customs benefits for EV manufacturers/importers, boosting of domestic demand, and development of an ecosystem to support EV manufacturing, such as promotion of the electric battery industry.

The panel will meet again on May 13 to discuss progress of the subcommittee appointment.