Shared by the Thailand EV Association: Outlook for EVs in Thailand - Opportunities and Challenges [Southeast Asia Auto Conference]

At the 2025 SMM (2nd) Southeast Asia Automotive Supply Chain Conference hosted by SMM, Yossapong Laoonual, Honorary Chairman of the Electric Vehicle Association of Thailand (EVA) and Director of the Mobility and Vehicle Technology Research Center (MOVE) at King Mongkut's University of Technology Thonburi (KMUTT), shared insights on the topic of "Thailand's EV Outlook."

Overview of the ASEAN EV Market

Promotion Policies for EVs in ASEAN Countries

Thailand's EV Vision – The 30@30 Policy

Objectives

30@30: By 2030, Thailand aims to achieve a 30% share of zero-emission vehicles (ZEVs) in total production and a 50% adoption rate domestically.

Actual Production in 2024

Passenger Cars: 1,468,997 units

Motorcycles: 2,426,367 units

Total EV Production: 208,506 units

Adoption and Production Targets for 2025 and 2030

Among them, battery electric vehicles (BEVs): 9,688 units (up 5807.30% YoY); plug-in hybrid electric vehicles (PHEVs): 7,981 units (down 11.22% YoY); hybrid electric vehicles (HEVs): 190,837 units (up 30.58% YoY)

Expansion of EV Manufacturing Investment in Thailand

Planned EV production capacity exceeds 500,000 units per year

The number of newly registered new-type EVs in Thailand is as follows:

EV Adoption Trends (2019-2024)

Before 2022, the EV adoption rate remained below 1%. However, it surged from 1.47% in 2022 to 11.26% in 2023.

It is expected that by May 2025, this figure will further increase to 19%, indicating a significant rise in the appeal and acceptance of EVs in the market.

Despite the continuous increase in the EV adoption rate, the total number of vehicles has decreased compared to the data from 2023 and 2024, reflecting changes in the market structure.

Charging Infrastructure – Number of DC Charging Piles

Since 2023, the number of charging piles has seen a significant turning point, with a substantial increase in deployments. In 2023, the number of charging piles surged by 306.2% compared to the previous year.

As of 2023, the number of charging piles has exceeded the original expected target for 2025. However, significant progress is still needed to achieve the 2030 target.

Summary

Thailand's EV Vision (30@30 Policy)

Thailand's EV Vision (30@30 Policy) sets an ambitious goal of achieving a 30% share of zero-emission vehicles (ZEVs) in the country's total production and a 50% share in newly registered vehicles by 2030. To achieve this goal, the government provides subsidies to original equipment manufacturers (OEMs) that produce cars, pickup trucks, and motorcycles.

2024 Capacity and Market Performance

The planned annual capacity for EVs exceeds 500,000 units, while the actual production in 2024 was 9,688 units, representing a 58-fold increase compared to the entire year of 2023. Although internal combustion engine vehicles still dominate the market, the growth rate of battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs) is very rapid, with a compound annual growth rate (CAGR) of 138% for BEVs from 2020 to 2024. By 2024, the market penetration rate of electric four-wheelers had reached 13%.

Infrastructure Development

By 2024, the ratio of electric passenger vehicles to charging stations was 28, and the number of DC charging piles had exceeded the 2025 target by 40%. These charging piles are mainly distributed in places such as gas stations, department stores, and office buildings.

Challenges Faced

In the Thai four-wheeler EV market, Chinese OEMs have already taken a dominant position and are benefiting from the 30@30 policy. To enhance the competitiveness of the local automotive industry, local automotive parts suppliers should actively integrate into the global supply chain and collaborate with Chinese OEMs to improve price competitiveness and enhance technological capabilities.

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