Thailand Revs Up For An Electric Future With BYD And Electric Tuk-Tuks | CNA Correspondent

Summary

The 2024 Bangkok Motor Show highlights Thailand's ambition to become a world-class EV production hub. With BYD, the Chinese automaker that overtook Tesla, leading the charge, Thailand is attracting global EV brands to set up manufacturing. The Thai government's incentives and support for the EV sector are driving growth, as local companies adapt to the electric future, and startups like HM Motor join the race. The focus is on expanding charging infrastructure and promoting local participation in the EV supply chain to ensure Thailand's automotive industry thrives in the electrification era.

Takeaways

• 🚗 Chinese automaker BYD has become the world's top electric vehicle producer, overtaking Tesla and opening its first plant in Thailand.
• 🌏 Thailand is positioning itself as a hub for electric vehicle production, with the government actively promoting foreign investment in the sector.
• 🏭 The Thai Board of Investment has approved 24 projects by car makers to produce various types of electric vehicles within the country.
• 🔋 There is a strong focus on battery manufacturing, with more than 40 projects promoted by the government, recognizing the battery as a key component of EVs.
• 💰 The Thai government expects EV and EV-related investments to reach 5.5 billion USD in the next five years.
• 📈 BYD's investment in Thailand is seen as beneficial for bilateral relations between China and Thailand, in addition to economic gains.
• 🚘 Japanese car makers have traditionally used Thailand as a regional production base, but Chinese companies are now making significant inroads in the EV sector.
• 🔧 The entry of global EV brands into Thailand is seen as an opportunity for local component manufacturers to grow and become part of the EV supply chain.
• 📊 Thailand has a goal to have at least 30% of all vehicles produced in the country be zero-emission vehicles by 2030.
• 🔌 The availability of public charging stations is a concern for EV drivers in Thailand, with a need for more infrastructure to support the growing number of EVs.
• 🛵 Local Thai companies, such as HM Motor, are also participating in the EV market, focusing on electric bikes and motorbikes for commercial and private use.

Q & A

Which Chinese automaker overtook Tesla as the world's top electric vehicle producer?

BYD overtook Tesla as the world's top electric vehicle producer.

How long has Toyota been making cars in Thailand?

Toyota has been making cars in Thailand for over 60 years.

What is Thailand's position in the world's automotive production ranking?

Thailand ranks as the 10th largest automotive production base in the world.

What is the Thai government's intention regarding the electric vehicle industry?

The Thai government has a strong intention to make Thailand a world-class EV production hub.

How many EV projects has Thailand's Board of Investment approved?

Thailand's Board of Investment has approved 24 projects by car makers to produce EVs in the country.

What is the expected annual production capacity of BYD's first plant in Thailand?

BYD's first plant in Thailand is expected to produce 150,000 EV units annually.

Which Chinese company became the first to start production in Thailand?

Great Wall Motor (GWM) became the first Chinese EV manufacturer to start production in Thailand.

What is the current number of public charging points in Thailand?

Thailand currently has about 9,700 public charging points for electric vehicles.

What is the government's initiative to encourage consumers to switch to electric vehicles?

The Thai government offers subsidies to consumers buying electric cars, pickup trucks, or e-motorbikes, ranging from 20,000 to 100,000 Thai Baht per unit.

What is the Thai government's target for electric vehicles by 2030?

The Thai government aims to ensure that at least 30% of all vehicles produced in Thailand will be zero-emission vehicles by 2030.

How has the entry of global EV brands into Thailand affected local component manufacturers?

The entry of global EV brands into Thailand has provided local component manufacturers with increased opportunities and potential for greater growth as they become part of the EV supply chain.