The Asian Transport Outlook (ATO) project – supported by the Asian Development Bank and the Asian Infrastructure Investment Bank - together with the Urban Electric Mobility Initiative (UEMI) and the EU-supported SOLUTIONSplus project, are producing e-mobility profiles that focus on taking stock of the main developments relating to e-mobility transition in Asian economies. This is the profile for Thailand.

 
Thailand’s automotive sector is crucial to the economy, representing around 10% of GDP and ranking as the world’s 11th largest production base, with 1.7 million vehicles produced in 2022 and employing 850,000 people, known as the “Detroit of Asia,”  

Thailand is now positioning itself as a leading EV production hub in Asia. By June 2023, EV registrations had risen to 430,000—a 29% increase since late 2022 and more than double the number in 2020. Cars make up 91% of EV registrations, with hybrids (HEVs) leading at 71%. 

Despite rapid growth, EVs still represent only a small fraction of Thailand’s total vehicles, with about 2% of the market in 2020. Currently, 38 battery electric models from 21 companies are available. The Government is actively supporting the EV industry under its “Thailand 4.0” vision, which aims for technological advancement to make Thailand region’s premier EV production hub. 

Challenges include limited EV infrastructure and high costs. As of May 2023, the country had approximately 1,482 public charging stations, totaling 4,628 charging points. Electric mobility also offers a way to reduce Thailand’s dependence on imported fuels, which in 2022 amounted to 1.57 million barrels of oil equivalent per day. 

Electricity in Thailand is affordable at $0.11 per kWh, with grid emissions declining from 540 kg CO2/MWh in 2000 to 507 kg CO2/MWh in 2022. Natural gas powers 53% of the grid, while renewables and hydropower contribute 13%. 

Read the full report here.