The Thai electric car market is expanding rapidly and has drawn the attention of foreign investors who are looking to Thailand as a possible production hub. Thailand’s electric car industry continues to be promoted through roadshows by the Board of Investment (BOI).
Battery electric vehicle (BEV) registrations have significantly increased, claims the Federation of Thai Industries (FTI). 33,365 BEVs were registered in the first five months of 2023, which is more than five times as many as during the same time previous year. Foreign investors now have more faith in Thailand’s potential as a production base thanks to the rise of the local market, supportive government policies like tax and non-tax incentives, and BOI’s international roadshows.
Entrepreneurs with an interest in the electric car industry have responded favorably to the BOI’s roadshows, including recent ones that took place in Germany and France on June 18–23.
