Thailand Electric Vehicle Current Status as of June 2024, reflects several current trends in Thailand’s electric vehicle (EV) market. Here are the key trends highlighted:
Growth in EV Registrations
Significant Increase in Registrations: The number of xEV registrations has grown substantially over the past five years, with a marked rise in 2024. Monthly registration numbers for the first half of 2024 show consistent and significant figures, indicating strong market momentum.
Market Diversity
Wide Range of Brands: The market includes 40 brands, with a diverse mix of manufacturers. Chinese brands dominate with 50%, followed by Japanese (25%), European (15%), and other brands (10%). This diversity suggests a competitive market with various options for consumers.
Consumer Preferences
- Popular Body styles: There is a clear preference among local consumers for specific body styles. For passenger cars (PC), SUVs are the most popular (44.64%), followed by hatchbacks (28.42%) and sedans (23.87%). For light commercial vehicles (LCV), mini vans (39.43%) and mini trucks (33.99%) are favored.
- Top 10 Most Popular Models: The image lists the top 10 most popular xEV models, including brands like BYD, Neta, MG, ORA, and Tesla, showing consumer preferences for these models.
Infrastructure Development
- Growing Network of Charging Stations: As of December 2023, there are approximately 2,658 EV charging stations across Thailand. This expansion supports the increasing number of EVs and reflects the country’s commitment to developing the necessary infrastructure.
- Government Support: The image highlights government incentives and subsidies that encourage EV adoption, further driving market growth.
Geographic Distribution
Concentration in Bangkok: A significant portion of new vehicle registrations (53.39%) is concentrated in the Bangkok Metropolitan Region, indicating a strong urban market for EVs.
Overall, the image underscores the dynamic evolution of Thailand’s EV landscape, marked by rapid growth in registrations, a diverse and competitive market, evolving consumer preferences, and robust infrastructure development. These trends collectively point to a positive and progressive outlook for the EV market in Thailand.
