Shocking surge: Chinese EV makers eyeing membership in FTI

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Chinese electric vehicle (EV) makers are expressing interest in joining the Federation of Thai Industries (FTI) to support the growth of Thailand’s emerging EV sector. The FTI is currently in discussions with Chinese automobile manufacturers and aims to reach a decision shortly, according to Surapong Paisitpatanapong, vice-chairman of the FTI and spokesman for the FTI’s Automotive Industry Club.

He said…

“Most EV makers from China, including companies that already announced investment plans in Thailand as well as newcomers, are displaying an interest in becoming members of the Automotive Industry Club.”

Presently, the club has members from Japan, Europe, and the US, who play a crucial role in advancing Thailand’s automotive industry.

Surapong noted that the addition of Chinese firms would increase Thailand’s car manufacturing capacity by 100,000 vehicles per year, as officially recorded by the club. Despite a decline in production in April, the club has maintained its forecast for total car production at 1.95 million units this year. In 2021, car manufacturing output reached 1.88 million units.

Car production in April decreased by 0.13% year-on-year to 117,636 units, due to the extended Songkran holiday and a drop in domestic sales, particularly for pickups. However, from January to April, car manufacturing experienced a 4.61% year-on-year increase, amounting to 625,423 units.

In the EV segment, more new vehicles from three categories—battery EVs (BEVs), hybrid EVs (HEVs), and plug-in hybrid EVs (PHEVs)—were seen on Thailand’s roads in April. New BEV registrations in April surged by 321% year-on-year to 5,181 cars, according to the club, citing data from the Department of Land Transport. During the first four months of this year, 26,233 BEVs were registered, representing a year-on-year increase of 534%.

New HEV registrations in April rose by 31.6% year-on-year to 6,198 cars, as per the department. From January to April, total HEV registrations increased by 40.9% year-on-year to 30,634 cars. Meanwhile, new PHEV registrations in April grew by 6.33% year-on-year to 784 units, with total PHEV registrations during the first four months of the year rising by 9.6% year-on-year to 4,172 cars, Bangkok Post reported.

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Alex Morgan

Alex is a 42-year-old former corporate executive and business consultant with a degree in business administration. Boasting over 15 years of experience working in various industries, including technology, finance, and marketing, Alex has acquired in-depth knowledge about business strategies, management principles, and market trends. In recent years, Alex has transitioned into writing business articles and providing expert commentary on business-related issues. Fluent in English and proficient in data analysis, Alex strives to deliver well-researched and insightful content to readers, combining practical experience with a keen analytical eye to offer valuable perspectives on the ever-evolving business landscape.