Thailand’s Bold Electric Vehicle Plan - Past event
Sat, Dec 31
|Thailand’s Bold Electric Vehicle Plan
Thailand’s Government has set an aggressive plan with targets of having electric vehicles account for 50% of all new car registrations by the end of the decade. Join us to learn more.
Time & Location
Dec 31, 2022, 10:30 a.m.
Thailand’s Bold Electric Vehicle Plan
About the Event
Previously the government set a target to have EVs make up 30% of total car manufacturing, around 750,000 of 2.5 million units, within 2030. The government has now as at March 24 to increase the target to 50%, following the rapid growth of EVs in many countries, especially in Europe.
Krisda Utamote, president of the Electric Vehicle Association of Thailand (EVAT) recently shared his opinion that the 50% goal means more charging facilities are needed and the target adjustment may also require a measure to ban ICE (Internal Combustion Engine) vehicles to better develop the EV market. Growth of the EV industry will affect makers of auto parts for ICE vehicles as many of their products will no longer be in demand, with automakers switching focus to EVs.
This change will be delivering a technology and significant changes in the automotive supply chain. Such a significant change is unavoidable and…