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Carmakers see Thailand as the best regional base for EV production

Carmakers see Thailand as the best regional base for EV production

Supattanapong said he was also trying to make connections in EV battery manufacturing and recycling.

A source at the Government House said the delegation met with four automakers to discuss EV-support measures from 2022 to 2025, including excise and customs tax cuts.

During the meetings, the car manufacturers also announced their future business plans. For example, Toyota plans to produce 30 EV models over the next 10 years and aims to sell 3.5 million electric vehicles by 2030.

Thailand’s Board of Investment supports car manufacturers in the production of battery electric vehicles (BEV), hybrid electric vehicles (HEV) and plug-in hybrid electric vehicles (PHEV).

The benefits offered to four automakers include:

• Toyota: The project for the production of BEV and PHEV cars was approved on January 7, 2020. The vehicles are expected to hit the market in 2023.

• Nissan: The project for the production of HEV cars and EV batteries was approved on July 28, 2018. The carmaker invested 10.96 billion baht in the project.

• Honda: The company’s baht 5.82 billion expansion into the production of HEV cars and EV batteries was approved on July 28, 2018.

• AutoAlliance: Its project for the production of PHEV and BEV vehicles was approved on November 4, 2020. The carmaker has invested 3.25 billion baht and expects to produce 5,000 PHEV and 1,000 BEV each year for the local market.

Meanwhile, Supattanapong also said that Japanese electronic companies see Thailand as a strong midstream and downstream manufacturing base. They also believe Thailand has the potential to develop into an upstream semiconductor manufacturer, provided it builds a strong workforce in the field, he added.

Japanese companies in the medical sector have also expressed confidence in the potential of the Thai medical sector. He said these companies plan to enter the medical industry and clinical research by collaborating with Thai universities and hospitals.

Supattanapong said the delegation also discussed guidelines on applying medical technology to keep the elderly healthy and extend their lifespan so that they can continue to work after retirement age. He said this was necessary because Thailand is fast becoming an aging society.