Thailand EV Sales Excepted to Top 150,000 in 2024 Thanks to Tax Cuts, Subsidies

Thailand’s electric vehicle sales may double this year as Chinese manufacturers prepare to roll out their first locally manufactured models and about $2.4 billion in government incentives boosts consumer demand.

New battery EV registrations are likely to top 150,000 by the end of the year, Krisda Utamote, president of the Electric Vehicle Association of Thailand, said in an interview in Bangkok. That will push the vehicles’ share of total passenger car registrations to 20% this year, from 12% last year and single-digits in 2022, he said.