BANGKOK, July 1 (Xinhua) -- The Thai government is actively preparing a new package of support measures to protect electric vehicle (EV) investors from intensifying competition and macroeconomic headwinds, the head of the Board of Investment (BOI) said on Wednesday.
Speaking at the 11th International Electric Vehicle Technology Conference and Exhibition, BOI Secretary General Narit Therdsteerasukdi announced that the agency has finalized a proposal following direct consultations with individual automakers and industry groups like the Electric Vehicle Association of Thailand (EVAT).
Narit said the upcoming interventions aim to ensure long-term sustainability as the domestic industry faces rapid technological change and tighter local credit conditions that are beginning to contract the consumer market.
The announcement underscores a critical strategic pivot for the Southeast Asian automotive hub. EVAT President Suroj Sangsnit emphasized that Thailand's transition can no longer merely focus on introducing more battery-powered cars into the market.
"More importantly, it is about building a complete, competitive, and connected EV ecosystem that can support Thailand's long-term industrial growth," Suroj said, mapping out critical localization fields including battery cell systems, advanced software, component recycling, charging infrastructure, and local talent development.
According to the BOI, overall promoted investments in the EV sector have already reached 130 billion baht (about 3.9 billion U.S. dollars), covering almost 200 projects and spanning licensed domestic manufacturing capacity that surpasses 370,000 pure-battery electric vehicles (BEVs) annually.
On the infrastructure side, the nation has deployed over 22,000 charging stations, including 10,000 specialized fast-charging outlets.
Thailand is witnessing a rapid shift in consumer preferences, as electrified mobility solutions surpassed 40 percent of total new vehicle registrations last year, data from the BOI showed.
The figures highlight a significant transformation, with BEVs alone securing a nearly 20 percent market share, compared to the less than 1 percent levels seen just five years ago.
The breakdown further revealed that hybrid electric variants represented over 21 percent of new registrations, while plug-in hybrid models accounted for 3 percent of the market.
Narit also noted that the forthcoming policy will prioritize mandatory domestic sourcing, foreign-local joint ventures, automated factory facility upgrades, and expanding testing capabilities into advanced driver assistance systems and autonomous mobility platforms. ■