Global EV trend surges with Thailand joining the race

A surge in the global trend of electric vehicles (EVs) usage has been highlighted by Poonphong Naiyanaphakorn, the director of the Trade Policy and Strategy Office.

This information was shared with the public on a day not too long ago. The International Energy Agency (IEA) has predicted that the total EV sales are set to rise from 10 million units last year to 14 million units by the end of the following year, marking an impressive growth of 35%.

Interestingly, China had the highest number of EVs sold worldwide last year, with a staggering 5.9 million units, making up 58% of the total EVs sold across the globe.

Switching focus to the domestic scene, statistics from the Thai Department of Land Transport revealed that the registration of battery electric vehicles (BEVs) from the beginning of the year until September showed a total of 66,919 units. This represented a massive growth of 300% compared to the previous year.

The Thai government, along with the private sector, has accorded significant importance to policies and measures aimed at promoting EVs. They have set an ambitious goal of increasing the Zero Emission Vehicle (ZEV) production rate to 30% of all automotive production by the end of the decade.

In a move to further support the use of EVs, the Electric Vehicle Association of Thailand has approved measures that will see the Thai government reduce import duty by a maximum of 40% for EVs priced no higher than 2 million baht between 2024 and 2027. Additionally, excise tax rates will be slashed from 8% to 2% for EVs costing no more than 7 million baht, reported Pattaya News.

Incentives for potential electric vehicle buyers are also in the pipeline, with subsidies of up to 100,000 baht being offered based on the type of vehicle and the size of the battery.

To facilitate the ease of EV usage, the public and private sectors are joining hands to increase the number of EV charging stations across Thailand. By the year’s end, they aim to have a total of 150 stations in operation. This is indeed a testament to Thailand’s commitment to embracing the future of sustainable transportation.