Realizing that investment in the production of electric vehicles will help tackle the PM 2.5 dust problem and climate change in the long run, Thailand deems it necessary to boost environment-friendly industrial development, especially the manufacturing of zero-emission vehicles, which reduce dependence on fossil fuels and vehicle emissions.
To achieve this aim, the Thailand Board of Investment (BOI) had approved a set of incentives covering all types of EVs, namely passenger cars, buses, trucks, motorcycles, three-wheelers, and ships. Recently, it approved 26 EV projects, including battery electric vehicles (BEV), plug-in hybrid (PHEV), and hybrid (HEV), from 17 companies, with a total investment value of 86.8 billion baht.
The BOI is also actively promoting the build-up of an electric charging network and other necessary elements to strengthen the EV ecosystem and related industries in Thailand, while working with various agencies to attract EV manufacturers from Asia, Europe, and America to invest in Thailand.
A report from the Department of Land Transport, Ministry of Transport, shows that the domestic use of EVs is also on the rise, as seen from a significant increase of registered electric cars. Thailand is well-known as a major hub for auto manufacturing in Southeast Asia. It has great potential for becoming a major EV production base in this part of the world, as well.
Apart from production, the Thai government also aims to promote EV sales and the EV supply chain. It estimates that, by 2030, 30 percent of all autos manufactured in Thailand, or 750,000 out of 2.5 million vehicles, will be electric. Of the 750,000 units, half will be BEVs.