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The Thai government unveiled a new goal to establish Thailand as a centre for EV manufacturing. In order to encourage the usage of EVs, the government has also developed plans for producing batteries and constructing charging stations.
In order to bolster its position as a significant Asian EV manufacturing hub, the Thai government is also entering into deals with electric car businesses on incentives, tax cuts, and subsidies.
The Thailand EV Components Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
Prior to domestic EV production, China’s SAIC Motor announced plans to invest in and construct an EV battery plant in Thailand. In Thailand’s Chonburi province, SAIC Motor already operates a factory that produces batteries for plug-in hybrid electric vehicles. To encourage exports, they plan to increase production capacity for BEV batteries.
In order to assess the feasibility of constructing a new electric vehicle (EV) battery factory in the nation, Thailand’s oil and gas behemoth PTT has created a new joint venture with its power generation subsidiary Global Power Synergy (GPSC).
Arun Plus Company, a completely owned EV subsidiary of PTT, owns 49 percent of the newly formed Nuovo Plus Company, while GPSC, which already has a modest EV battery facility in the nation, holds 51 percent of the ownership.
Prior to PTT’s ambitions to start producing zero emission commercial vehicles in the nation, Nuovo Plus will look into investment prospects in the EV battery supply chain.
Along with developing an EV charging network and creating a digital platform for EV drivers, it plans to construct a new battery production facility in Rayong, on Thailand’s eastern seaboard.
The American company EVLOMO has received funding to increase the number of electric vehicle charging stations it has in Thailand. Additionally, the corporation declared its intention to develop lithium battery manufacturing in the Kingdom’s sophisticated industrial region.
