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Thailand attracts 5.5 billion USD in EV industry investment

The global automotive industry is undergoing a strong shift towards electric vehicles, smart vehicles and digital technology, BOI Secretary General Narit Therdsteerasukdi said in a keynote speech.

​Bangkok (VNA) – Thailand’s Board of Investment (BOI) announced that the country has attracted more than 182 billion THB (about 5.5 billion USD) in investment in the electric vehicle (EV) industry, affirming its position and readiness to become a major EV production base in the region.

​The global automotive industry is undergoing a strong shift towards electric vehicles, smart vehicles and digital technology, BOI Secretary General Narit Therdsteerasukdi said in a keynote speech.

In this context, areas such as software, electronics, battery management systems and advanced driver-assistance systems (ADAS) are becoming crucial factors in determining competitiveness.

According to Narit, this presents an important opportunity for Thailand to leverage its strong automotive industry foundation to become a regional hub for next-generation automotive production, encompassing both green and smart mobility.

He emphasised that the Middle East crisis and its impact on global energy prices have accelerated the transition to electric vehicles, demonstrating that green mobility is not only an environmental issue but is also linked to energy security and national competitiveness.

Therefore, the Thai government is prioritising the promotion of EV use, improving energy efficiency, and encouraging clean energy to strengthen energy security and enhance the economy’s long-term resilience.

According to the BOI, Thailand is not only following the global automotive industry’s transition trend but actively shaping the process by attracting leading global companies, including EV manufacturers and advanced component producers, to establish production and export bases in the country.

In addition, the BOI is focusing on supporting domestic businesses to integrate more deeply into the global supply chain.

The agency has held discussions with four key automotive industry associations to develop next-phase measures, focusing on continued support for Thai automakers, increasing the localisation rate of components, and enhancing the capacity of domestic enterprises./.

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#Thailand #EV #automotive industry #Middle East crisis Thailand
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