Thailand Electric Vehicle Market Outlook (2020-2025) | Forecast
Thailand Electric Vehicle Market Synopsis Thailand electric vehicle market is at a nascent stage, the market witnessed minimum sales in the previous few years due to the outbreak of the Covid-19 pandemic. Further, Amid the rising adoption of electric cars around the globe, the Thailand Board of Investment approved several projects such as 10 battery and 2 charging stations production projects to encourage investment in electric vehicle charging-related projects. Moreover, a project worth THB5.48 billion ($175.36 million) by Mitsubishi Motors (Thailand) Co., Ltd.’s to upgrade the company’s existing car production line at Laem Chabang Industrial Estate has also been approved which would boost the demand for electric vehicles in the country. According to 6Wresearch, Thailand electric vehicle market size grew at a CAGR of 75.5% during 2020-2025. Thailand electric vehicle market has significant growth prospects. The project of converting existing buses into electric buses by the Metro...