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Tuesday, May 7, 2024

Thailand bets on EVs to draw trillion baht in foreign investment

Board of Investment (BOI) secretary-general Narit Therdsteerasukdi test-drives an electric vehicle (EV) made by Changan Automobile during the BOI’s roadshow in China in July 2023. (Photo: BOI)

Thailand, renowned as the ‘Detroit of Asia’ for its production of internal combustion engine cars, wants to break into the top tier of electric vehicle (EV) makers as part of a goal to lure 1 trillion baht (US$28 billion) of foreign investments in four years.

To that end, the Southeast Asian nation has set up a “special operation” centre to catch what its investment board head calls the “big fish” of the EV industry and…

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