With 58% of the region’s electric vehicles (EV) sales, Thailand is the number one market for passenger EVs in Southeast Asia. The registration of EVs has skyrocketed by 1,206% and EV exports have also increased by 18% compared to the same period last year. The recent Thailand International Motor Expo witnessed a remarkable record of 5,800 car bookings for EVs. A wide range of brands from European, Japan, Chinese, and the U.S. currently offer their EVs in Thailand. As Thailand continues to be the region’s largest automotive hub, it serves as a gateway to other countries and attracts investors in the EV sector. Several major EV producers have recently developed their production facilities in the country. In addition, the transition from online sales only to the plans to open flagship stores signals a positive trend in the Thai EV sector. The Royal Thai Government has implemented various measures and incentives to boost EV sales, primarily through demand-side incentives and corporate income tax incentives for EV manufacturers. The subsidies ranging from 70,000 baht to 150,000 baht, depending on the type and model of vehicle, are also available. The number of charging facilities is also continuing to expand; in Bangkok and neighboring provinces alone, there are several hundreds of EV charging stations.
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