Charing Into The Thai EV Market

Last week, the Bangkok motor expo, Thailand’s largest auto expo, was held with various international companies displaying their cars at the Motor Show. It was estimated to generate a total of 30 billion thai baht or $900 million though sales of car and advertising.

The Chinese and Japanese automakers seized this opportunity to race into the Thai EV market, a relatively nascent market for them to explore. Despite this, the Thai government has allocated subsidies and encouraged Thai EV growth to respond to global climate change and green energy transportation call.

Mr. Sritalayon of China’s Great Wall Motors of Thailand said that the Thai government is to boost the EV market to 100% this year, and his company’s ORA has sold 1,100 Good Cat EVs since last November. Thailand government sought to transform the country to a green energy car production hub.

At the expo, Honda displayed HR-V EV, of which debut was made in February. The model is the first 100% Electric Vehicle offered in Thailand by a Japanese manufacturer.

Chinese manufacturers benefit from the 0% import tariffs because of the free-trade zone between China and the Association of Southeast Asian Nations. The new broader tariff cut will soon benefit other countries as well.

Taiwanese iPhone assembler Foxconn and Thai oil and gas conglomerate PTT Group are also collaborating to catch up in the EV market as they co-operate an EV car factory. The factory will put into manufacture starting 2024. President and CEO of PTT Group Auttapol Rerkpiboon said that they are “ready” to produce EVs in Thailand, which will help reach the Thai government’s goal of making EV to make up 30% of total car manufacturing by 2030.

Post time: Mar-30-2022

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