Thailand’s EV aspiration requires investment in enhancing workforce skills: FTI
The Federation of Industries (FTI) believes Thailand will only fulfil its ambition to become an “EV hub” if it invests in reskilling and upskilling its workforce over the next five years.
Suphot Sukphisarn, chair of FTI’s Autoparts Group, said recently that despite Thailand’s strength in mechanical manufacturing, its workforce lacks expertise in circuitry and electrical work, which is crucial for the electric vehicle (EV) industry.
Thailand currently boasts 23 major auto parts manufacturers employing over 700,000 workers, showcasing its prowess in mechanical manufacturing.
Meanwhile, a report from data analytics firm, EY-Parthenon, projected a compound annual growth of 16-39% in EV sales from 2021 to 2035 in the ASEAN-6 group (Indonesia, Malaysia, Thailand, Vietnam, the Philippines and Singapore). It expects EV sales to top 8.5 million cars by 2035, with Thailand poised to become the second-largest consumer.
Despite the positive outlook, the report also said that challenges such as high starting capital, building a charging infrastructure and creating an EV supply chain need to be addressed. The report positioned Thailand second only to Singapore in terms of readiness.
Separately, Preecha Arunnara, an audit partner at EY, noted that climate change and worsening air pollution have shifted buyers’ interest towards electric vehicles and also influenced national policies.
