Thailand's electrical vehicle registrations surge 380% in 2023
Thailand witnessed a near 400 per cent surge in registrations of electric vehicles (EV) in 2023 over the previous year.
The Electric Vehicle Association of Thailand (EVAT) released a summary of the EV landscape, showcasing significant growth and a promising future for electric mobility in the country.
New registrations for Battery Electric Vehicles (BEVs), particularly electric cars, reached 76,366 units in 2023, marking a substantial increase from 9,678 units in the previous year. Overall new registrations for EVs of various types surged to 100,219 units in 2023, demonstrating a growth of 380% compared to the 20,816 units registered in 2022.
The breakdown of new registrations for different types of electric vehicles in 2023:
BEV cars: 76,366 units
BEV motorcycles: 21,927 units
BEV passenger vehicles: 1,218 units
BEV tuk-tuk: 432 units
BEV trucks: 276 units
The BEV category experienced significant growth, increasing from 32,081 units in 2022 to 131,856 units in 2023, representing a remarkable 311% growth. This growth spanned all types of EVs, the association said.
Chinese automakers, including Chang'an, SAIC, and Great Wall Motors, took a prominent lead in signing up for EV 3.5 privileges. This reflects a continuous upward trend in Thailand's electric vehicle market, with these companies participating in the second phase of the Electric Vehicle 3.5 (EV 3.5) programme, the EV association said. This initiative, in collaboration with the Department of Land Transport, aims to support and promote the use of electric vehicles in Thailand.
Dr. Ekniti Nitithanprapas, director-general of the Revenue Department, emphasised the government's commitment to driving the EV 3.5 support measures from 2023 to 2026. The policy is expected to propel Thailand into becoming a hub for electric vehicle production in the region. The EV 3.5 policy aligns with global environmental strategies, promoting carbon neutrality and net-zero greenhouse gas emissions.
It is deemed that the import of electric vehicles under the EV 3.5 policy will reach around 175,000 units between 2023 and 2024. This is expected to stimulate domestic production, with an estimated 350,000 to 525,000 electric vehicles rolling off the assembly lines in Thailand by 2026. The estimated financial support for the EV 3.5 policy is approximately 34.06 billion baht.
