Thailand sees bright future for electric vehicle market in 2023
Thailand's electric vehicle (EV) market will continue to gain momentum in 2023, with sales expected to reach between 25,000 and 35,000 units, according to the Federation of Thai Industries (FTI).
Thailand sees a bright future for the electric vehicle market in 2023. (Photo: VNA)
Bangkok (VNA) – Thailand's electric vehicle(EV) market will continue to gain momentum in 2023, with sales expected toreach betwee🦋n 25,000 and 35,000 units, according to the Federation of Thai Industries(FTI).
The FTI said however, that whether the target will be attained depends on the availability ofsemiconductors which have become scarce worldwide, affecting the automotiveindustry.
The federation believes EV sales in 2022 could reach 1,000 units.
Surapong Paisitpatanapong, vice-chairman and spokesman for the FTI's AutomotiveIndustry Club, attributed the growth in EV sales to their less aggressiveprices and the state incentive package aimed at stimulating sales.
In February 2022, the Thai cabinetﷺ agreed to approve tax cuts and subsidies topromote EV consumption and production during the 🉐period 2022 to 2023.
Surapong acknowledged that the country is seeing abright future for the EV industry after global EV manufacturing giants, notablyTesla and BYD, launched their electric autos in Thailand while others alsoannounced their investments in car assembly in the country.
Though Thailand foresees growth in its EV industry, driven by the globalcampaign for zero emissions, the country has to deal with💧 many challenges thatcould decelerate its growth, according to global management consultancy ArthurD. Little.
The prices of renewable energy and charging servicesremain high in Thailand, while the number of EV charging stations isinsufficient to serve EV drivers, the company said./.
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Thailand sees a bright future for the electric vehicle market in 2023. (Photo: VNA) 
