Soaring fuel price pushing up demand for EVs
There has been an increase in demand for electrical vehicles (EV) as the price of fossil fuel has been increasing, while the government has been implementing policies support EVs, the Federation of Thai Industries (FTI) revealed.
However, a shortage of semiconductors has hampered production, as a result buyers might have to wait more than three months to get delivery of their EV.
The FTI said that in the first five months of 2022, 1,567 battery electric vehicles (BEV) were registered in May, increasing 189.65 per cent year on year (YoY), while 5,702 BEVs were registered in the first five months of 2022, up 156.15 per cent YoY.
There were 5,362 newly registered hybrid electric vehicles (HEV) in May, increasing by 67.77 per cent YoY, while 27,093 HEVs were registered in the first five months of 2022, up 46.8 per cent YoY.
In addition, 1,056 plug-in hybrid electric vehicles were registered in May, increasing by 50 per cent YoY, and 4,862 were registered in the first five months of 2022, increasing by 55.09 per cent YoY.