Recently, the Prime Minister of Thailand stated that Germany will support the development of Thailand’s electric vehicle industry.
It is reported that on December 14, 2023, Thai industry officials stated that the Thai authorities hope that the electric vehicle (EV) production capacity will reach 359,000 units in 2024, with an investment of 39.5 billion baht.
To promote the development of electric vehicles, the Thai government has cut import and consumption taxes on imported electric vehicles and provided cash subsidies to car buyers in exchange for automakers' commitment to build local production lines - all in an effort to maintain Thailand's long-standing reputation as a part of new initiatives to establish itself as a regional automotive hub. These measures, which begin in 2022 and will be extended until 2027, have already attracted significant investment. Large Chinese automakers such as BYD and Great Wall Motors have established local factories that can both enhance Thailand's manufacturing influence and help Thailand achieve its goal of becoming carbon neutral by 2050. Under such circumstances, Germany's support will undoubtedly further promote the development of Thailand's electric vehicle industry.
But Thailand's auto industry faces at least one major obstacle if it wants to continue its rapid expansion. Kasikornbank Pcl's research center said in an October report that the number of public charging stations may not keep up with sales of electric vehicles, making them less attractive to mass-market buyers.
Post time: Jul-24-2024