BANGKOK (ANN/THE NATION) – Thailand’s Prime Minister and Finance Minister Srettha Thavisin expresses confidence in the country’s potential to emerge as a regional hub for electric vehicle (EV) manufacturing, along with related industries within the EV ecosystem, according to government spokesperson Chai Wacharonke on Monday.
Srettha highlights Thailand’s competitive edge, encompassing a robust supply chain, well-established infrastructure, and supportive policies aimed at propelling the nation’s EV manufacturing capabilities, enabling successful exports to global markets.
Citing data from the Board of Investment of Thailand (BOI), Chai reveals that 16 manufacturers of battery electric vehicles (BEVs) have been granted investment privileges, with a combined investment exceeding THB39.5 billion.
These companies comprise established Japanese automakers transitioning from internal combustion engines to EVs, as well as new players from Europe, China, and various other nations.
Most of these manufacturers are currently in the process of establishing their factories in Thailand, with plans to commence operations later this year.
Chai noted that BOI has also granted promotions to 17 manufacturers of EV batteries, 14 manufacturers of high-density batteries, and 18 manufacturers of EV components with combined investment values of THB11.7 billion, THB12 billion and THB5.97 billion respectively.
For EV infrastructure, the BOI has approved investment privileges for 11 companies to establish EV charging stations in Thailand, with a combined investment value of over THB5.1 billion.
Chai said the government is working with the BOI to attract more EV manufacturers to invest in Thailand, especially those from the US, Europe and South Korea.
“The Prime Minister has been leading Thai representatives to meet major manufacturers overseas to demonstrate Thailand’s potential as an EV hub in the region,” said Chai. “Meanwhile, the government also continues to promote the use of renewable energy to further boost the EV market while also responding to environmental challenges.”
