Thailand Commences Production of Electric Vehicles

February 2024

In January 2024, Thailand achieved an important milestone in its automotive industry, with the inaugural production of its first domestically manufactured electric vehicle (EV) in Rayong. The unveiling of the New Ora Good Cat EV model, manufactured under the Great Wall Motor Co (GWM) brand, represents a pivotal step in Thailand’s automotive evolution towards sustainable practices.

A noteworthy aspect of the New Ora Good Cat EV is that all its components are produced domestically, showcasing Thailand’s commitment to self-reliance in the EV sector. This move aligns with the country’s broader goal of prioritizing green initiatives.

The Thai government has set ambitious targets for battery electric vehicles (BEVs), aiming for them to constitute 30% of total car manufacturing by 2030. This comprehensive plan encompasses the production of 725,000 zero-emission cars, 675,000 electric motorcycles, and 34,000 electric buses and trucks.

Thai Minister of Industry Pimphattra Wichaikul, speaking at the launch ceremony, noted the rising popularity of Battery Electric Vehicles in Thailand, with GWM’s Good Cat being particularly favored among consumers. The ministry pledges ongoing support for the EV industry, emphasizing collaboration with public and private entities to drive policies through the National Electric Vehicle Policy Committee.

In line with Thailand’s commitment to the EV sector, the government recently extended its EV promotion campaign, known as “EV 3.5,” until 2027. Under these measures, the government plans to offer subsidies of approximately THB 100,000 baht (USD 2,852) per vehicle for imported EVs, coupled with a requirement for car manufacturers to establish EV manufacturing plants in Thailand at a ratio of two to three times the number of imports. This multifaceted approach aims to boost both EV manufacturing and adoption, further solidifying Thailand’s position in the global electric vehicle landscape.

(Source: China Daily)

Our Services

Orissa International provides consulting services to companies that want to develop a market entry strategy for Southeast Asia or implement their business expansion into the region. We have very strong domain knowledge of markets and industry sectors, and a business network of over 16,000 distributors, resellers, and system integrators, built through advising and guiding more than 5,000 companies with their market expansion into Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines over the last 25 years.