Thailand is now China’s third largest EV export market

From January to September this year, the China Passenger Car Association data shows that China has exported 59,375 units of new energy vehicles to Thailand, as reported by Automotive News.

The figure marks a 176 percent rise compared to the same period in 2021. Thailand currently ranks third as export destination for Chinese electric vehicles (EVs) behind Belgium and the UK.

This is attributed to Thailand’s aim to become Southeast Asia’s manufacturing hub for EVs. The government has approved a 2.92 billion Baht (around RM 364.1 million) subsidy package to boost sales of battery EVs.

Also read: Thailand approves RM 364.1 million tax incentive for EVs – price cut by up to RM 18,700 per EV

The Thailand government also has an ambitious plan to sell only electric vehicles (EVs) domestically from 2035 and to lift electric car production to approximately 700,000 units per annum by the end of the decade.

Also read: EV pickup truck is Thailand’s future; CKD EVs from 2035, road to zero emissions

Automotive News reports that Hozon Auto’s Neta V EV has received more than 5,000 orders to date. The Neta V is one of the most affordable EVs in Thailand, with an introductory price of THB 549,000 (around RM 68k).

Also read: Hozon confirms EV plans for Malaysia, Neta V launched in Thailand at RM 68k, does 384 km

Demand for EVs in Thailand were apparent when people were queuing overnight for the BYD Atto 3. BYD Thailand stated that official bookings of the Atto 3, on the first day it went on sale, stood at 2,507 units.

Also read: People in Thailand queued overnight for BYD Atto 3, just like for iPhones

Meanwhile in Malaysia, BYD SD Motors Malaysia (BYD SDM) is reportedly gearing up to launch the BYD Atto 3 and e6 as early as next month in December.

Also read: BYD to enter Malaysia via Sime Darby Motors, Atto 3 and e6 confirmed to launch

Source: Thailand is now China’s third largest EV export market