The electric vehicle industry in Thailand is set to receive a huge boost, as the National Electric Vehicle Policy Committee has set a goal to increase the output of Z Electric Vehicle (ZEV) to 725,000 units or 30% of Thailand’s overall automotive output by the year 2030. There is also an initiative to create a total ecosystem with charging stations and battery factories to secure Thailand’s leading position in the automotive industry and attract foreign direct investment to optimize the green trend and innovative development.1 Meanwhile, the industrial sector is ready to take off with the MOU signing between Panus Assembly Co., Ltd. and global leading lithium-ion manufacturer from China Contemporary Amperex Technology Co., Ltd. The agreement will allow joint battery engineering design and test as well as high voltage box management system. There is a potential of establishing a battery production plant in the EEC2 which will contribute tremendously to the National Electric Vehicle Policy Committee’s goal.
On another note, Taiwan’s Foxconn is planning to build EV factories in the US and Thailand in 2022 and start mass producing vehicles the following year.3 In the wake of the European Commission's European Green Deal to ban sales of all new vehicles with internal combustion engines by 20354, the news about Foxconn’s investment will help enable Thailand to be able to stay ahead in the automotive market in the near future.
Source: 1Thansettakij / 2Siamturakij / 3Techcrunch / 4Nikkei Asia
