Thailand aiming to build 750,000 EVs a year by 2030

Thailand aiming to build 750,000 EVs a year by 2030

Thailand is looking to increase electric vehicle (EV) production to 30% of the country’s total industry volume (TiV) over the next 10 years, the National News Bureau of Thailand reports. The plan to electrify cars, motorcycles and buses is part of the strategy to cut levels of hazardous PM2.5 air pollution that have plagued the country.

The country’s industry minister, Suriya Jungrungreangkit, outlined the goals of the development plan for the EV industry, stating that in the short-term, the aim is to produce more than 60,000-110,000 EVs, including public buses and electric motorcycles, while the medium-term goal is to produce about 300,000 EVs and smart city buses.

Ultimately, the target is to produce 750,000 EVs out of a total of 2.5 million vehicles made annually by 2030. He said the ministry of industry will accelerate an improvement in the quality of EVs and study guidelines for continual industry development, including that promoting the recycling of materials, to achieve a systematic vehicle management mechanism.

Thailand aiming to build 750,000 EVs a year by 2030

The government will also launch measures to encourage people to exchange their old cars for new ones, although these will not just apply for electric vehicles. The ministry plans to offer tax incentives for individuals and companies to exchange their old cars for new cars or EVs.

The ministry, working with the finance ministry, is proposing to launch trade-in coupons worth 100,000 baht each for individual car owners, who can also use their expense to reduce tax. Discussions are underway and the project is expected to be forwarded to the country’s cabinet for a final say within two or three months, the Bangkok Post reports.

Suriya said that the project involving the trade-in coupon scheme will be open to all types of car models, including EVs, and will run for five years, which will help restore the Thai automotive industry. “This is a quick-win project to help car manufacturers and related businesses crushed by the impact of Covid-19,” he said.

Thailand aiming to build 750,000 EVs a year by 2030

He expects EVs to become more popular, as it is one of the targeted S-curve industries supported by the government. In March 2017, the Thai Board of Investment (BoI) introduced EV privileges for car and auto component makers covering three types of EVs, namely hybrid, plug-in hybrid and battery-powered.

The privileges include a five to eight year tax holiday as well as import duty exemptions for cars and machinery. Manufacturing privileges were granted to 13 companies, including Toyota, Honda, Nissan, Mazda, Mercedes-Benz, BMW, SAIC Motor-CP, FOMM, Mitsubishi and Mine Mobility.

Earlier this year, the country’s government said a roadmap for the production of electrified vehicles – to begin within three years – would be finalised this year, with plans to have the country becoming a regional EV hub in five years. Meanwhile, some automakers have been waiting for greater clarity and direction from the government with regards to its EV policy before committing further into electrification.

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Anthony Lim

Anthony Lim believes that nothing is better than a good smoke and a car with character, with good handling aspects being top of the prize heap. Having spent more than a decade and a half with an English tabloid daily never being able to grasp the meaning of brevity or being succinct, he wags his tail furiously at the idea of waffling - in greater detail - about cars and all their intrinsic peculiarities here.

 

Comments

  • Henry on Sep 01, 2020 at 12:05 pm

    Too bad the investors didn’t choose us. :(

    Like or Dislike: Thumb up 4 Thumb down 1
    • Angry Voters on Sep 01, 2020 at 10:35 pm

      Good riddance, we don’t need shortterm investments likes these that gone as easily as they come.

      Like or Dislike: Thumb up 3 Thumb down 0
  • common sensor on Sep 01, 2020 at 12:07 pm

    Thailand Automotive Institute is more focus on automotive as compared to our MARii which has loss its sense.

    Like or Dislike: Thumb up 6 Thumb down 0
  • Roti john on Sep 01, 2020 at 12:22 pm

    Every other countries in the world are advancing by researching and investing in EV. EV is the future and will replace every diesel and petrol cars. Thailand is smart to support EV development by producing more EVs. While in Vietnam, their National Carmaker Vinfast is testing an EV car. However in Malaysia, our National Carmaker Proton is still very unsure about EV. This is why we haven’t seen Proton launch the Game-Changing Proton Iriz EV showcased many years ago, trully a blunder for Proton

    Like or Dislike: Thumb up 4 Thumb down 11
    • Rakyat Malaysia on Sep 01, 2020 at 5:01 pm

      Vietnam, 99% of their rakyat cannot afford for their national car.
      Malaysia, 99% of us can afford for a Proton. Perodua toksah cakap, bukan national tulen pun.

      Like or Dislike: Thumb up 9 Thumb down 2
    • Copy Paste on Sep 01, 2020 at 5:04 pm

      Copy paste: “whatever the freaking policy the government will implement in this so called ev hybrid sector, the bottom line is majority of malaysian people still cant afford it.
      1) replacing the battery are expensive
      2) a dedicated parking spot for ev charging which im pretty sure are scarce in urban area, if exist sure lain harga parking, lain harga charging.
      3) ownership value, which is expensive compared to conventional cars.”

      Like or Dislike: Thumb up 4 Thumb down 0
  • Before talking about electric cars, please electrify your tuks-tuks lah. Easy to talk about big figures but Bangkok still shrouded in smog due to polluting public transports.

    Like or Dislike: Thumb up 15 Thumb down 3
    • LatukBandar on Sep 01, 2020 at 1:53 pm

      they build to export. you think every country like malaysia? got own national car for syiok sendiri?

      Like or Dislike: Thumb up 6 Thumb down 4
      • Rakyat Malaysia on Sep 01, 2020 at 4:59 pm

        What’s the point export and keep air clean and nice smelling in other countries cities while their own Bangkok air is toxic and foul to breath? Don’t they care about their own rakyat? A responsible country should be caring of their rakyat like our current gomen, making sure we make cars responsibly towards our own environment complying to EURO5 regs.

        Like or Dislike: Thumb up 7 Thumb down 0
  • Bieight on Sep 01, 2020 at 9:22 pm

    Meanwhile in Malaysia we have flying cars and p3

    Like or Dislike: Thumb up 3 Thumb down 0
  • Copy Paste on Sep 02, 2020 at 8:22 am

    Copy paste: “whatever the freaking policy the government will implement in this so called ev hybrid sector, the bottom line is majority of malaysian people still cant afford it.
    1) replacing the battery are expensive
    2) a dedicated parking spot for ev charging which im pretty sure are scarce in urban area, if exist sure lain harga parking, lain harga charging.
    3) ownership value, which is expensive compared to conventional cars.”

    Like or Dislike: Thumb up 2 Thumb down 0
 

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