Rising environmentally-friendly EVs to be seen in Thailand over next two decades

BANGKOK, September 24 (TNA) - The Thai government, through the Ministry of Industry, has set a target to increase the production of ecology-electric vehicles (Eco-EVs) to about 25 per cent of the country's total auto production by 2036. Deputy Industry Minister Somchai Harnhirun announced the target at a seminar marking the 20th anniversary of the Thailand Automotive Institute (TAI), held in Bangkok recently. Somchai expressed his confidence that the Thai auto industry is ready for the change, thanks to its strong supply chains and human resources, and that the Thai Kingdom should sustain its status as a major auto production base in the ASEAN Economic Community (EC) in the long run. To meet the target, Somchai said that his ministry will promote and support expanding domestic investment in the production of Eco-EVs of all types and their parts and accessories over the next five years, including incentives provided to international auto firms through the Board of Investment of Thailand (BOI). According to the deputy minister, at least four international auto firms have sought the promotional privileges from BOI, under his ministry's supervision, while the Thai Industrial Standards Institute, also under his ministry's supervision, has also introduced standard criteria of the locally-produced Eco-EVs and other relevant basic infrastructure, namely battery charging stations. TAI reported, meanwhile, that the Thai auto industry has been established for 57 years so far and has become the world's 12 largest production base of automobiles, with the total production capacity now reaching three million units yearly, about one million of them are exported earning the Thai Kingdom of about 2 per cent of the country's total gross domestic product (GDP) annually. (TNA)