In 2023, China’s electric vehicle exports will become a highlight of foreign trade, with Southeast Asia being the main market. Thai consumers generally like the styling, high-tech feel and high cost performance of Chinese brand electric vehicles.
According to CCTV reports, Chinese brands will account for 70~80% of Thailand’s pure electric vehicle market in 2023. The top four sales of electric vehicles in Thailand for the whole year are all Chinese brands, and Chinese brands occupy eight of the top ten seats. It is expected that more Chinese electric vehicle brands will enter the Thai market in 2024.
Statistics from “Thailand Car Life” show that the 10 most popular electric cars in Thailand in 2023 are:
BYD ATTO 3 – 19,214
Neta V – 12,777
BYD Dolphin – 9,410
Ora Good Cat – 6,712
Tesla Model Y – 5,881
MG 4 – 4,833
MG EP – 4,475
Tesla Model 3 – 2,324
BYD Seal – 1,810
MG ZS EV – 1,753
According to statistics by brand, Thailand’s 2023 electric vehicle sales ranking is:
BYD – 30,650 vehicles
Neta(Hezhong) – 12,777 units
MG – 12,764 units
Tesla – 8,206 vehicles
Ora Motors – 6,746 units
According to reports, the Thai government is actively supporting the development of the electric vehicle industry and will provide a subsidy of 150,000 baht (currently about 30,600 RMB) per person per electric vehicle in 2023. As a result, the country’s electric vehicle market has exploded, growing 684% year-on-year; but this trend may decline slightly as subsidies shrink to 100,000 baht (currently about 20,400 RMB) in 2024.
Krisda Utamote, chairman of the Thailand Electric Vehicle Association, said in an interview with Bloomberg in Bangkok that by the end of this year, the number of new electric vehicle registrations may exceed 150,000, accounting for 20% from 12% last year (and only 20% by 2022). number of digits).
He believes that as Chinese manufacturers prepare to launch the first batch of locally made models in Thailand, coupled with government incentives of approximately US$2.4 billion (Note: currently approximately 17.28 billion RMB), Thailand’s electric vehicle sales may increase this year. will double. He also noted that the Thai government wants electric vehicles to account for 30% of vehicle production by 2030.
