Thai EV sales surge by 603% amid government incentives

[webfact]

 

Battery electric vehicles (BEVs) sales in Thailand surged by 603% year-on-year to 73,568 units last year, with the upward trend expected to continue throughout this year, as per the Federation of Thai Industries (FTI).

 

This growth is expected to outstrip that of internal combustion engine (ICE) vehicles, which witnessed a 13.7% year-on-year sales decline to 238,570 units in 2023, capturing a 30.7% market share in the passenger car segment. However, BEVs claimed a 9.4% market share in the same segment.

 

Despite Apple Inc.’s recent announcement of scrapping its decade-long effort to manufacture EVs, promising EV sales are attracting more investment from car and tech developers.

 

The state EV incentive packages have been instrumental in making EV prices more affordable, thereby catalysing the demand for EVs, stated Surapong Paisitpatanapong, vice-chairman of the FTI and spokesman for its Automotive Industry Club. The government has unveiled three packages to stimulate the production and consumption of EVs.

Last month, the National Electric Vehicle Policy Committee sanctioned incentives to encourage companies to transition their commercial fleets of large trucks and buses to BEVs. These incentives include a tax deduction granted to eligible companies, effective until December 31, 2025. The committee also approved cash grants for EV battery cell manufacturers.

The Thai EV industry is also being driven by the EV3.5 and EV3.0 schemes previously launched by the government, according to Surapong. EV3.5, running from 2024 to 2027, comprises subsidies ranging between 5,000 (US$140) to 100,000 baht (US$2,814) for imported electric cars and motorcycles, alongside reductions in import duties and excise tax. EV manufacturers participating in EV3.5 are required to start domestic EV production in 2026.

 

During the Prayut Chan-o-cha administration, the committee approved EV3.0, including tax cuts and subsidies to promote EV consumption and production between 2022 and 2023. The subsidies vary from 70,000 baht (US$1,970) to 150,000 baht (US$4,221) depending on the vehicle type and model, with lower excise tax and import duties on completely knocked-down and completely built-up units.

 

EV confidence

 

The incentives, combined with the economic sentiment in Thailand, will instil confidence among potential car buyers, encouraging them to purchase EVs. If the prices of BEVs, particularly imports, are between 600,000 (US$16,887) and 1 million baht (US$28,145), more people are likely to buy these cars, said Surapong.

 

Krisda Utamote, president of the Electric Vehicle Association of Thailand (EVAT), attributed the rapid EV market growth to high oil prices, technological advancements, and environmental concerns.

 

In January this year, BEV sales in the country accounted for 17.8% of total car sales, according to the Automotive Industry Club. The government has set a target for BEVs to constitute 30% of total car manufacturing by 2030, producing 725,000 zero-emission cars, 675,000 electric motorcycles, and 34,000 electric buses and trucks.

 

Surapong dismissed the belief that a limited number of EV charging outlets, especially in public places, will impact EV sales and production. With the growing demand for EVs, developers and operators of charging facilities are expected to increase their numbers, making chargers more publicly accessible, reported Bangkok Post.

 

Apple plans to transfer employees working on the EV project to the artificial intelligence division, as per a Bloomberg News report. This decision comes as several EV makers, primarily car companies in China, announced or are pondering more investment in EV assembly and battery manufacturing.

 

by Alex Morgan

Photo courtesy of iStock

 

Source: The Thaiger 2024-03-08

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

 

[OneMoreFarang]

In case you want to buy one maybe have a look at the following video - and maybe think again.

This is just one of many videos from people who are not so excited about EVs - and not just one sided. 

 

 

[flyingtlger]

Yup, I purchased a Tesla and I regret it.

Next car I purchase will be a hybrid......

[billd766]

I wonder how much of a year on year gain there would have been if there were NO government subsidies and EV were on the same footing as ICE vehicles. I.E. no subsidies.

[Rimmer]

Meanwhile in China 8 EVS combust daily, its a fad and a lot of people are going to get burnt, literally......

 

According to statistics from China's emergency management department, in the first quarter of 2023, an average of 8 EV caught fire every day, marking a 32% increase compared to previous periods.

 

 

[happysoul]

It's amazing how many people take the EV road in Thailand despite having max chargers capacity of 11kWh. Or maybe I miss some information but to experience never found a charging rate above 11kWh. So for a small city car (around 50kWh), it's 4h to get close to full charge from empty battery. Not appealing when you know that chargers can go up to 120kWh.

A 3 phased home charger can go to 7kWh (not sure about that, higher like 11 or 22 ?), single at best is around 3-4kWh (almost sure about that). 

 

Interested in improving my knowlege so if something is wrong above, please correct me. I own an hybrid with a max charging rate of 3.6kWh so all charging stations are fine for me but always wondered if full EV could charge faster than an hybrid (due to the charger here in Thailand, not the car itself).

 

Next question is "will the grid hold when 30% of cars are electric ?"

[Geoffggi]

37 minutes ago, OneMoreFarang said:

In case you want to buy one maybe have a look at the following video - and maybe think again.

This is just one of many videos from people who are not so excited about EVs - and not just one sided. 

 

 

 

[Geoffggi]

Thanks, very interesting video I hope the Thai PM gets to watch it ................LOL

[OneMoreFarang]

2 hours ago, Rimmer said:

Meanwhile in China 8 EVS combust daily, its a fad and a lot of people are going to get burnt, literally......

 

According to statistics from China's emergency management department, in the first quarter of 2023, an average of 8 EV caught fire every day, marking a 32% increase compared to previous periods.

 

 

 

It would be interesting to read about the average damage done to the surrounding, and how long it took to extinguish/remove the fire. 

 

 

[OneMoreFarang]

2 hours ago, Geoffggi said:

Thanks, very interesting video I hope the Thai PM gets to watch it ................LOL

Not just the Thai PM.

 

I find it sad that now so much is in the news all the time about climate change or emergency and EVs and all that, but nobody wants to see the problems with all that.

 

I am not against new technologies, in fact I like that people invent all the time new things.

But we should look at reality, not wishful thinking and virtue signaling.

 

 

 

 

 

Edited March 8 by OneMoreFarang

[TroubleandGrumpy]

2 hours ago, OneMoreFarang said:

In case you want to buy one maybe have a look at the following video - and maybe think again.

This is just one of many videos from people who are not so excited about EVs - and not just one sided. 

 

 

I agree with everything this guy said - he has a lot of common sense.  The idiots running things are trying to force us all into EVs in order to reduce by 50% the 7% of the total CO2 that cars produce yearly.  Build nuclear and hydro power generators you idiots - that will drop CO2 by 40%. 

 

IMO EVs are like 3D movies. 3D movies were great but their time has come and gone. EVs are going out of favour. Too expensive too complciated too much trouble.   

[dinsdale]

It seems the Chinese EV market isn't in such a 'fantastic' shape as Thailand then with the majority of EV sales in Thailand being from China.

 

Edited March 8 by dinsdale

[OneMoreFarang]

5 minutes ago, TroubleandGrumpy said:

EVs are going out of favour. Too expensive too complciated too much trouble.

 

In the above video the guy clearly makes a difference between the different types of EVs.

Electric motors are fine.

Heavy batteries which take a long time to charge and their fire risk is a big problem.

But there are also vehicles with electric engine and fuel cells. That is, IMHO, not such a bad idea.

 

I will take time to develop different technologies and time will tell which are good in which situations.

The stupid "now we all have to have only EVs by 20xx" is the stupid part - thanks to many politicians and all those annoying activists. 

 

 

[edwinchester]

2 hours ago, happysoul said:

It's amazing how many people take the EV road in Thailand despite having max chargers capacity of 11kWh. Or maybe I miss some information but to experience never found a charging rate above 11kWh. So for a small city car (around 50kWh), it's 4h to get close to full charge from empty battery. Not appealing when you know that chargers can go up to 120kWh.

A 3 phased home charger can go to 7kWh (not sure about that, higher like 11 or 22 ?), single at best is around 3-4kWh (almost sure about that). 

 

Interested in improving my knowlege so if something is wrong above, please correct me. I own an hybrid with a max charging rate of 3.6kWh so all charging stations are fine for me but always wondered if full EV could charge faster than an hybrid (due to the charger here in Thailand, not the car itself).

 

Next question is "will the grid hold when 30% of cars are electric ?"

Last June I sold my Triton and bought a Neta V. 3500 kms per month primarily for the school run was costing approx 8000 bht per month in the Triton. Cost for the NETA V has been between 1500 and 1700 bht using PEA off peak tariff. It gets charged up every night using the slow granny charger supplied by Neta. Really enjoying the EV experience so far and just waiting for a decent lectric pickup to appear in Thailand.

[TroubleandGrumpy]

23 minutes ago, OneMoreFarang said:

In the above video the guy clearly makes a difference between the different types of EVs.

Electric motors are fine.

Heavy batteries which take a long time to charge and their fire risk is a big problem.

But there are also vehicles with electric engine and fuel cells. That is, IMHO, not such a bad idea.

 

I will take time to develop different technologies and time will tell which are good in which situations.

The stupid "now we all have to have only EVs by 20xx" is the stupid part - thanks to many politicians and all those annoying activists. 

Yes the activists have pushed Govts into doing what they want and the idiots in Govt have done that without realising the details. A mate of mione has a Tesla - it is the only electric car I would ever buy.  But the advice of Elon about what the Govts should do about the quality and stabndards of EV vehicles was ignored - they and the activists see him as the bogeyman. Both siders have done it, but that is especially true with left wing Govts.   

 

 

[JBChiangRai]

We have or have had 4 BEV’s, I will never buy an ICE car again.

 

I enjoy the supercar like performance, the silence of the driving experience and waking up to a full tank of electrons.

 

It’s also a big plus knowing it’s between 10 and 140 times LESS LIKELY to catch fire than a legacy ICE car and much less likely to break down as it has 100 times less moving parts than an ICE car.

[TroubleandGrumpy]

38 minutes ago, dinsdale said:

It seems the Chinese EV market isn't in such a 'fantastic' shape as Thailand then with the majority of EV sales in Thailand being from China.

In Australia we call that 'product dumping'. China never plays fair. 

[Dionigi]

it is in the words - per cent- parts of 100. 603% doesn't exist

[hotchilli]

3 hours ago, flyingtlger said:

Yup, I purchased a Tesla and I regret it.

Next car I purchase will be a hybrid......

The latest Toyota Hybrids are something special...I think they've seen the light and are backing away from full EV's

[hotchilli]

5 minutes ago, Dionigi said:

it is in the words - per cent- parts of 100. 603% doesn't exist

You need a Thai calculator... 

[john donson]

if you live in a condo, how do you charge it ?

[JBChiangRai]

28 minutes ago, john donson said:

if you live in a condo, how do you charge it ?

Some condo management are more enlightened than others and have already installed charging points, but right now it’s very few.

 

You could charge it at one of the many fast DC Chargers around, but it’s probably going to take you 20-30 minutes and whilst it’s still around 2-3 times cheaper than petrol/diesel, it’s probably 1.7 to 2 times more expensive than your own charging point.

 

If I lived in a condo I would still have an EV but it’s too much hassle for many people.

[Guderian]

4 hours ago, webfact said:

Battery electric vehicles (BEVs) sales in Thailand surged by 603% year-on-year to 73,568 units last year

 

With the numbers on the road in Pattaya lately, I can believe at least 50,000 of those were sold in this city, lol.

[OneMoreFarang]

1 hour ago, JBChiangRai said:

We have or have had 4 BEV’s, I will never buy an ICE car again.

 

I enjoy the supercar like performance, the silence of the driving experience and waking up to a full tank of electrons.

 

It’s also a big plus knowing it’s between 10 and 140 times LESS LIKELY to catch fire than a legacy ICE car and much less likely to break down as it has 100 times less moving parts than an ICE car.

The engine won't catch fire.

The battery is the problem. And the fire is not just like any other fire. It can't be extinguished the conventional way. 

[retarius]

1 hour ago, john donson said:

if you live in a condo, how do you charge it ?

You don't, you have to go to a public charger....really convenient.

[Lacessit]

48 minutes ago, OneMoreFarang said:

The engine won't catch fire.

The battery is the problem. And the fire is not just like any other fire. It can't be extinguished the conventional way. 

The fire burns at about 2700 C, supplies its own oxygen, and produces toxic fumes. It's a nightmare for firefighters, particularly in enclosed spaces.

[Lacessit]

2 hours ago, TroubleandGrumpy said:

Yes the activists have pushed Govts into doing what they want and the idiots in Govt have done that without realising the details. A mate of mione has a Tesla - it is the only electric car I would ever buy.  But the advice of Elon about what the Govts should do about the quality and stabndards of EV vehicles was ignored - they and the activists see him as the bogeyman. Both siders have done it, but that is especially true with left wing Govts.   

 

 

I would not touch a Tesla with a barge pole. Even Musk is admitting the BYD brand is better.

Teslas rate well with their owners. They rate far less well with major reviewers of build quality and reliability.

[lavender19]

Do they have anyone capable of fixing them here when the inevitable break down

[mikebike]

8 hours ago, happysoul said:

It's amazing how many people take the EV road in Thailand despite having max chargers capacity of 11kWh

Who cares? I use a motorbike 90% of the time. My EV can charge for days. I don't need or want a fast charger.

[mikebike]

4 hours ago, TroubleandGrumpy said:

In Australia we call that 'product dumping'. China never plays fair. 

In Aus you have no protectionist tariffs. A truly open market. China plays as fair as any other country. I am so happy we live in SEA, without western nanny govts telling me what I can buy and at what price.