Thailand’s electric vehicle sales are anticipated to rise by 40% in 2025, primarily due to government subsidies and production requirements.
The government’s incentives are expected to significantly increase Thai EV production, potentially starting an aggressive price war in the already struggling auto market. Thai’s electric vehicle (EV) sales are anticipated to increase by 40% in 2025 due to a national incentive program that mandates local production to qualify for tax benefits. Thai subsidies of up to 150,000 baht and tax incentives have established Thailand as the largest EV market in Southeast Asia; however, they also risk exacerbating price battles. Through consumer appeal and localization strategies, Chinese manufacturers substantially impact Thailand’s electric vehicle (EV) market.
According to Suroj Sangsnit, president of the Electric Vehicle Association of Thailand (EVAT), the largest EV market in Southeast Asia, electric vehicle sales are expected to increase by 40% this year, surpassing 100,000 units and rebounding from an 8% decline in sales last year.