Thailand amps up EV efforts to recharge used battery market

Thailand is intensifying its efforts to boost the electric vehicle (EV) supply chain with new investment incentives targeted at the repair and refurbishment of used EV batteries, according to the Board of Investment (BoI).

The BoI introduced a new investment promotion category for service centres specialising in the repair, repacking, and reuse of used EV batteries. This initiative is part of Thailand’s broader strategy to expand EV manufacturing, one of the 12 S-curve industries prioritised by the country.

The new category also includes investment in energy storage systems, often paired with clean energy solutions. BoI chairman and Finance Minister Pichai Chunhavajira, who presided over a recent meeting, expressed optimism about the incentives.

“This move will further complement the BoI’s comprehensive EV supply chain policy and incentives.”

The new investment promotion will operate alongside existing state EV incentives, aiming to solidify Thailand’s position as a regional hub for EV production.

The government has set an ambitious target for battery EVs to make up 30% of total car manufacturing by 2030. This goal translates to the production of 725,000 zero-emission cars, 675,000 electric motorcycles, and 34,000 electric buses and trucks.

The rapid increase in battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs) in Thailand underscores the need for improved management of used batteries.

Data from the Department of Land Transports shows that from January to April, newly registered BEVs increased by 36.3% year-on-year to 35,755 units, while new HEV registrations rose by 58.4% year-on-year to 48,528 units.

In the same meeting, the BoI approved investment promotion applications for eight projects worth a total of 56.9 billion baht.

Among these, two notable projects involve data centre investments, with a 7.1 billion baht data centre in Samut Prakan by a US-based multinational company, and a 3.3 billion baht expansion of a data centre operated by True Internet Data Center, also in Samut Prakan.

Thailand is increasingly focusing on data centre investments, which involve extensive networks of computer servers used for remote data storage and management, reported Bangkok Post.