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Thailand attracts over 4.1 billion USD in EV investment

In 2025, electrified vehicles accounted for more than 44% of new vehicle registrations in Thailand, up sharply from 3% five years earlier. Hybrid vehicles represented 21.8% of new registrations, followed by BEVs at 19.6% and PHEVs at 2.9%.

Electric vehicles produced by Chinese automaker BYD. (Photo: Xinhua/VNA)
Electric vehicles produced by Chinese automaker BYD. (Photo: Xinhua/VNA)

Bangkok (VNA) – Thailand has secured more than 4.1 billion USD in electric vehicle supply chain investments across 198 projects, aiming to strengthen its position as Southeast Asia's automotive hub.

According to Secretary General of the Thailand Board of Investment (BOI) Narit Therdsteerasukdi, the projects span the entire EV value chain, from producing vehicles, batteries and key components to charging infrastructure and battery-swapping stations.

Approved investments include 18 battery electric vehicle (BEV) projects worth 1.19 billion USD, seven hybrid electric vehicle (HEV) projects valued at 900 million USD, and seven plug-in hybrid electric vehicle (PHEV) projects totaling 284 million USD. BOI has also approved 57 battery and energy storage projects worth 1 billion USD and 49 key component projects, valued at 377 million USD.

In charging infrastructure, Thailand has approved 42 projects worth nearly 295 million USD, which are expected to install more than 22,900 charging points, including over 10,000 fast chargers, nationwide.

BOI said its incentives now cover all electrified vehicle technologies, from mild hybrids (MHEVs) and hybrids to plug-in hybrids and battery electric vehicles, helping automakers transition while strengthening the domestic supply chain.

In 2025, electrified vehicles accounted for more than 44% of new vehicle registrations in Thailand, up sharply from 3% five years earlier. Hybrid vehicles represented 21.8% of new registrations, followed by BEVs at 19.6% and PHEVs at 2.9%.

Most automakers granted BOI incentives between 2022 and 2025 have already begun production in Thailand, including Mercedes-Benz, Great Wall Motor, SAIC Motor-CP, BYD, Aion Automobile, Changan and EV Primus, while BMW, Hyundai Mobility and Omoda & Jaecoo are to launch EV production in 2026. Together, the projects have created more than 16,000 jobs.

To boost local content, BOI has also organised 18 business matching events over the past two years, facilitating more than 1,200 meetings between local suppliers and EV manufacturers, with domestic procurement expected to reach around 1.8 billion USD./.

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