FIFTY PERCENT EV INDUSTRY GROWTH FORECAST IN THE NEXT 20 YEARS

According to SCB Chief Investment Office (SCB CIO) sees a high growth opportunity with a forecast that in the next 20 years the industry will growth up to 50%. The Thailand Board of Investment has already approved 12 car makers with a total investment of 15,625 Million THB. The Thai government has set a goal of 250,000 electric vehicles, 3,000 electric buses and 53,000 electric motorcycles by 2025.

Recently, Chinese Carmaker Great Wall Motors Co (GWM) is strengthening its production base in Thailand with an investment of 22 billion baht as it seeks a foothold in the electric vehicle (EV) segment promoted by the government. The investment in Thailand will produce SUVs, pickups and electric vehicles, both plug-in, hybrid and EV, for the Thai market and for export. The growing demands and investment of the Thai Electric Vehicle industry present golden business opportunities for manufacturers of technologies, equipment, infrastructures, batteries and other related items for Electric Vehicles. ELECTRIC VEHICLE ASIA 2021 presents a business platform to showcase technologies and do business with suppliers, investors, car makers and policy makers from private and public sectors from across ASEAN.

Source: https://www.ryt9.com/s/prg/3087204