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Thailand entices OEMs to make it an Asian EV hub from 2025

Attractive though conditional subsidy programmes are motivating global OEMs to relocate EV manufacturing facilities to Thailand. By Will Girling

Although Thailand’s electric vehicle (EV) segment has previously been pinpointed by automakers like Hyundai as an important Asia-Pacific hub, its size remained relatively small in global terms. However, it is growing quickly: from around 15,000 units in 2022 to 76,000 in 2023 (+407%), Thailand’s Board of Investment (BOI) anticipates 150,000 EV sales in 2024, representing a 20% market share.

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