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Thailand’s Roadmap To Become The Regional EV Hub By 2025

Thailand’s Roadmap To Become The Regional EV Hub By 2025

Thailand’s Roadmap To Become The Regional EV Hub By 2025

The Thailand government has drawn up a roadmap which is set to transform Thailand into a regional electric vehicle (EV) and motorcycle hub for ASEAN in five years.  Strategies will be put in place to promote EVs and the government has targeted the production of 250,000 EVs, 3000 electric public buses and 53,000 electric motorcycles by 2025.

READ: Thailand To Lead In EV Battery Manufacturing And Assembly

The master plan is to increase EV production to 30 percent of its total automotive manufacturing capacity—750,000 units out of 2.5 million, by 2030. With government policies and incentives presented, this roadmap is set to build confidence among automakers who are looking into EV manufacturing in Thailand.

READ: Light In Thailand’s Economy Despite Coronavirus Outbreak

According to Bangkok Post, Deputy Prime Minister Somkid Jatusripitak stated that the government wants to promote Thailand as the base of a new generation of auto manufacturing. The Ministry will be speeding up its EV policies, urging the Board of Investment to revise EV privileges. Currently, 13 companies are granted EV privileges including Toyota, Honda, Nissan and Mercedes-Benz. The automotive sector will also be promoted as a target industry under the country’s S-curve policy.

READ: Thailand Sets Sight on Industry 4.0

Furthermore, the Ministry will be launching a three-year car and motorcycle trade-in scheme for people who trade their old motorcycles for an electric motorcycle, subsidising 15,000 baht per motorcycle. More charging stations will also be built and the BoI will implement promotional privileges to encourage development. “Charging stations should be within a radius of 200 kilometres from one another,” said Deputy PM Somkid.

 

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