Chinese automakers top three EV brands for Thai buyers in 2023
Chinese automakers were the top three electric vehicle (EV) brands for Thai people last year, according to the National Economic and Social Development Council (NESDC).
BYD was the top choice with the highest number of new EV registrations in Thailand at 30,467, followed by Neta (12,777) and MG (12,462). US-based Tesla and another Chinese brand, Great Wall Motor (GWM), were fourth and fifth with 8,206 and 6,746, respectively.
Most EVs registered in Thailand were imported from overseas as the country is in the early stages of investment in domestic EV production.
However, a significant increase in new EV registrations was attributed to the governement's EV3.0 and EV3.5 measures to promote the use of eco-friendly vehicles.
The Board of Investment (BOI)'s incentive stipulates that the manufacture of EVs and imports by automakers must be in a ratio of 1:1 this year and 1:1.5 next year. It is estimated that if foreign automakers can meet the stipulation, Thailand can become the world's EV and components production hub.
