e domestic market. The market is expected to benefit from (i) the February general election, which could trigger economic stimulus and boost consumer spending; (ii) the Bank of Thailand’s interest rate cut, lowering financing costs for buyers; and (iii) rising foreign direct investment, with over THB 1 trillion in approved projects driving industrial growth and employment. At the same time, key risks include (i) cautious bank lending amid house...

Market & Tech Reports  Updated at: 2026/02/20

e Market Overview   According to an announcement by Thailand’s Board of Investment (BOI), the total number of BOI investment incentive applications in 2025 was approximately 3,370 (up approximately 11% year-over-year (y/y)) with the total investment amount reaching a record high of approximately THB 1,876.6 billion. Of these, more than 200 projects were approved for automotive-related projects, with Chinese-affiliated projects accounting for h...

Market & Tech Reports  Updated at: 2026/02/17

ill continue until 2030. The subsidy amount per unit is between GBP 1,500 and 3,750. It applies to BEVs with a sales price of approximately GBP 37,000 or less. Thailand • Subsidies will be provided according to the vehicle model and battery capacity (EV 3.5 Program). This applies to BEVs, up to THB 100,000 • The excise tax is reduced. Customs duty: Import tax on CBU vehicles is exempted by up to 40%.Thailand implements new vehicle excise ta...

Market & Tech Reports  Updated at: 2026/02/09

), the top five car brands by bookings were Toyota (10,872 units), Honda (6,278), BYD (6,212), Omoda and Jaecoo (5,217), and GAC (5,019). Among motorcycles, Lambretta led with 785 units, followed by Yamaha (680), Deco (654), EM (618), and Zontes (615). The average transaction price at the event was THB 1,122,347 per car and THB 177,637 per motorcycle. Enhanced transport services and VIP experiences drew 1,521,296 attendees, helping revive Thailan...

Market & Tech Reports  Updated at: 2026/01/27

), the top five car brands by bookings were Toyota (10,872 units), Honda (6,278), BYD (6,212), Omoda and Jaecoo (5,217), and GAC (5,019). Among motorcycles, LAMBRETTA led with 785 units, followed by YAMAHA (680), DECO (654), EM (618), and ZONTES (615). The average transaction price at the event was THB 1,122,347 per car and THB 177,637 per motorcycle. Enhanced transport services and VIP experiences drew 1,521,296 attendees, helping revive Thailan...

Market & Tech Reports  Updated at: 2026/01/16

and mild hybrid vehicles (MHVs), and also indicated that additional measures such as a car replacement support system are being considered. Toyota, Honda, Isuzu, Mazda, Mitsubishi and Nissan all welcomed the clarification of the HV/MHV policy, which is expected to result in new investments totaling THB 50 billion (approximately JPY 240 billion). Each OEM also proposed additional measures to stimulate domestic demand in Thailand, ensure local prod...

Market & Tech Reports  Updated at: 2025/12/26

3804 Mitsubishi Motors premieres new Xforce HEV in Thailand; locally assembled (March 20, 2025) https://www.marklines.com/en/news/323683 Nissan outlines progress of turnaround measures, plans cost reduction of JPY 400 billion (February 14, 2025) https://www.marklines.com/en/news/321979 Mazda to add THB 5 billion investment in Thailand to establish MHEV manufacturing hub (February 14, 2025)https://www.marklines.com/en/news/321985 Toyota Thailand a...

Market & Tech Reports  Updated at: 2025/05/21

), Chery Automobile Co., Ltd. (Chery Automobile), and others are scheduled to start production in Thailand. The Thai government is also offering preferential treatment for the production of batteries, a key component of xEVs. The excise tax on EV batteries is reduced from 8% to 1% and a subsidy of THB 24 billion is provided to support manufacturing. In 2024, Energy Absolute PCL of Thailand, a joint venture plant between Banpu NEXT Co., Ltd. of T...

Market & Tech Reports  Updated at: 2025/05/12

S variant. The City Hatchback e:HEV combines a 1.5L Atkinson-cycle DOHC i-VTEC engine with a dual electric motor setup and e-CVT transmission, delivering 253 Nm of torque and achieving 27.8 km/l in fuel efficiency.   Another highlight was the e:N1, Honda's first fully electric vehicle, priced from THB 1.199 million. Imported as a CBU model from China, it is now open for booking and purchase. Offered in a single variant, the e:N1 features a minim...

Market & Tech Reports  Updated at: 2025/05/08

m/h in 7.3 seconds, while the REEV variant takes 7.9 seconds.   The Deepal S05 showcases a sleek and modern design with its Interstellar Wing Design, inspired by futuristic spacecraft. Its overall dimensions are (LWH) 4,620x 1,900x 1,600 mm, with a wheelbase of 2,880 mm. The S05 BEV is priced from THB 799,000, while the REEV option starts at THB 949,000. Changan's press stage Deepal S05 Deepal Hunter K50   The Deepal Hunter K50, the ...

Market & Tech Reports  Updated at: 2025/04/25

omote the development, production, and export of new energy vehicles, Thailand has stated that it will begin producing a new compact SUV for the Global South at a scale of 100,000 units per year from 2027. Source: Created from "Mazda Multi-Solution Briefing 2025" (March 18, 2025)   Mazda to add THB 5 billion investment in Thailand to establish MHEV manufacturing hub   In the same announcement "Lean Asset Strategy", Mazda also mentioned the s...

Market & Tech Reports  Updated at: 2025/04/01

esian markets decline, electric vehicles grow https://www.marklines.com/en/report/rep2729_202409   Thailand Nippon Steel Corp. urged to expand investment in Thailand, supported by growing HEV market (December 26, 2024) https://www.marklines.com/en/news/319684 Toyota Chaiman meets Thai PM; Planning THB 55 billion investment to expand HEV production (December 20, 2024) https://www.marklines.com/en/news/319458 Thailand EV Board approves extended BE...

Market & Tech Reports  Updated at: 2025/02/25

International Motor Expo was officially opened on November 28, 2024 (Press Day), featuring the concept of “Innovative Spirit…Futuristic Vehicles”. The event ran until December 10, 2024, successfully recorded 54,513 car bookings and 7,982 motorcycles booked, resulting in a circulation of over THB 55 billion.   The 42 car brands from 9 countries and 22 motorcycle makers from 7 countries showcasing their products at the show were Aion, Audi,...

Market & Tech Reports  Updated at: 2025/01/16

International Motor Expo was officially opened on November 28, 2024 (Press Day), featuring the concept of “Innovative Spirit…Futuristic Vehicles”. The event ran until December 10, 2024, successfully recorded 54,513 car bookings and 7,982 motorcycles booked, resulting in a circulation of over THB 55 billion.   The 42 car brands from 9 countries and 22 motorcycle makers from 7 countries showcasing their products at the show were Aion, Audi,...

Market & Tech Reports  Updated at: 2024/12/27

e to enhance transportation efficiency. In November of the same year, the first EV model, the MG4, rolled off the production line at the plant. The model uses a wide range of components from 17 local Thai suppliers. The plant became fully operational in May 2024. The total investment amount is over THB 30 billion. The plant has a Cell-To-Pack (CTP) battery assembly capacity of 50,000 units per year. Sales network EV Primus Co., Ltd., the first ...

Market & Tech Reports  Updated at: 2024/12/20

September, respectively. Vehicle production in January – September 2024 stood at 1,128,026 units, down 18.6% YoY.   Difficulty in accessing auto loans was still the main reason behind the sales decline. Financial institutions were also worried over YTD auto loan NPLs that have already surpassed THB 259 billion and the high household debt that has already exceeded 91% of Thailand’s GDP. The FTI also pointed out that the delayed budget bill f...

Market & Tech Reports  Updated at: 2024/11/26

serving as a Southeast Asia export hub for right-hand drive vehicle markets. The company has established three local subsidiaries, namely Changan Auto Southeast Asia Co., Ltd., Changan Auto Sales (Thailand) Co., Ltd., and Changan Auto Components (Thailand) Co., Ltd. Furthermore, Changan will invest THB 20 billion to establish an NEV (New Energy Vehicle: BEV, PHEV, and FCEV) production base. The annual production capacity is set at 200,000 units. ...

Market & Tech Reports  Updated at: 2024/11/25

dealers from four countries: Thailand, Myanmar, Vietnam, and Singapore. The first overseas product, the Aion Y Plus (with right-hand drive), was launched in September 2023, and the Hyptec HT in September 2024. In January 2024, construction of the GAC Aion Thailand plant with a total investment of THB 2.3 billion and an annual production capacity of 50,000 units began at the Thai Rayong Industrial Estate (construction will be divided into two ph...

Market & Tech Reports  Updated at: 2024/10/30

17,682 1,610,308 1,792,016 1,856,814 Source: Department of Land Transport (DLT) of Thailand materials, etc     Sales of electric motorcycles in Thailand in 2023 were 21,000 units, of which Deco Green Energy Co., Ltd. (Deco) accounts for 9,000 units.   The Thai government provides a subsidy of THB 18,000 (JPY about 78,000) for the purchase of electric motorcycles priced up to THB 150,000. In May 2024, electric motorcycle manufacturer EM Moto...

Market & Tech Reports  Updated at: 2024/09/10

s, and market entry of Chinese OEMs (Aug. 2023)  Electrification policies of ASEAN countries Thailand Plans to have EVs account for 30% of domestic automobile production by 2030 EV3.5 incentive package to be implemented from 2024 to 2027Reduction in excise tax rate・ EV passenger cars (under THB 7 million): 8% → 2%・ EV pickup trucks: 0% (until 2025), 2% (2026 to 2035)Reduction in import tariff rate・ EV (under THB 2 million): 40% redu...

Market & Tech Reports  Updated at: 2024/09/04