The Federation of Thai Industries (FTI) predicts sales of battery electric vehicles (BEVs) to exceed the set target of 40,000 units, by reaching between 60,000 to 70,000 units this year. This surge is despite the stricter loan criteria by banks, which pose a potential threat to Thailand’s domestic car manufacturing.
According to Surapong Paisitpatanapong, vice-chairman of the FTI and spokesperson for the FTI’s Automotive Industry Club, the robust BEV sales are largely driven by Chinese imports, with their new models and marketing strategies resonating with Thai consumers.
He stated, “Chinese BEVs have dominated the EV market in Thailand and their sales are expected to keep growing.” The club, however, anticipates a higher number of locally manufactured EVs to hit the market next year, considering the current low assembly rate in Thailand’s factories.
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