Technological advancement and universal efforts to restrain global warming have led to the increasing popularity of electric vehicles or EV. Thailand, among other countries, has an impressive growth rate of its EV market. This is reflected from the statistics disclosed by President of the Electric Vehicle Association of Thailand (EVAT) Khun Krisda Utamote in an interview with the METALEX 2023 team. |
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| “In 2022, there were more than 9,600 personal electric cars registered in Thailand and more than 9,900 electric motorcycles, compared to 2021 when there were only 1,955 registered electric cars. This is a result of the Thai government’s support schemes for electric car buyers by providing a subsidy of 150,000 baht per car, as well as the reduction of excise tax for electric cars imported from China down from 8% to only 2%. |
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In the first eight months of 2023, there were more than 43,000 electric cars registered, and this figure is expected to reach over 70,000 by the end of the year. The most popular brands of EV in Thailand are BYD, NETA, Tesla, GWM and MG. In addition to imports, some leading EV manufacturers have already set up their own assembly plants in Thailand, such as MG, GWM, BYD, Neta, Horizon Plus that jointly invested with Foxconn, and Hyundai and KIA have announced the plan to establish their facilities here as well. This will ultimately strengthen Thailand’s position toward becoming an EV hub of ASEAN.” |
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At the global level, electric vehicles continue to rise in popularity while the ICE cars continue to drop in the number of units manufactured. Therefore, one of the challenges faced by existing automotive parts manufacturers is the decreasing demand for some auto parts. At the same time, the market is open wide for manufacturers of parts and components that can be used in EV such as battery, control units, electric motors, sensor systems, safety systems or advanced driver assistance systems (ADAS). There are also room to grow for new players such as providers of battery recycling service, application developers for car sharing and payment gateway for every type of EV, among others. |
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| To empower entrepreneurs in the electric vehicle industry as well as those looking for new business opportunities, the Electric Vehicle Association of Thailand (EVAT) and RX Tradex will co-organize EV Tech Forum 2023 under the theme “Emerging Business in EV Ecosystem” on Friday, 24 November 2023 at 13.30-16.00 hrs. at Grand Hall 203, 2nd Floor, BITEC, Bangkok. The panel of speakers will include the experts from EVAT and representatives from other renowned agencies in the automotive industry.
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“This discussion will project the future of the EV ecosystem, which has been compiled from our experience throughout the course of technological changes and dynamic driver behavior. Therefore, I would like to invite those interested to attend the forum and hear about business opportunities as well as guidelines on how to prepare your future move following the international standards, so that you can transform your business smoothly and shape your competitive advantages in the market.” Khun Krisda added. |
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According to the Tourism Authority of Thailand, the Royal Thai Government promotes tourism with a 30-day Tourist Visa Exemption Scheme for Chinese tourists starting from 25 September 2023 to 29 February 2024.
For details of the news, please click here. |
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