Thailand test ground for EV OEMs
Ahead of other Southeast Asian countries, Thailand continues to be eco-minded. The country was the first in the region to introduce an emission-based taxation, almost a decade ago.
Automotive Thailand
Thailand is a key player in the manufacturing ecosystem, and one of the major car exporters in APAC. Obviously, the country wants to stay ahead of its neighbours and eyes, with concern, the electric vehicle revolution that has started in Indonesia.
Export is one thing, but domestic sales remain important, especially as the Thai consumer is clearly being triggered by electric vehicles: EV penetration is gradually gaining traction as sales are reaching close to 15K units in 2023 YTD.
| Year | EV Sales | Total Annual Sales | EV Penetration |
| 2020 | 1056 | 792146 | 0,13% |
| 2021 | 1935 | 759119 | 0,25% |
| 2022 | 9729 | 849388 | 1,15% |
| 2023 Q1+Q2 | 14777 | 276603 | 5,34% |
Source: marklines.com
Chinese preferences
BYD is the most popular EV brand, and its ATTO 3 SUV is the number one EV in the country. BYD is followed by the NETA V, a vehicle that’s become popular because of its affordability (MSRP between $8000 and $16000).
| Models | Q1 2023 Sales | Q1 2023 Sales Share |
| BYD ATTO 3 | 5,542 | 37.5% |
| Neta V | 2,502 | 16.9% |
| Tesla Model Y | 1,593 | 10.8% |
| Ora Good Cat | 990 | 6.7% |
| MG 4 Electric | 872 | 5.9% |
| MG EP | 837 | 5.7% |
| MG ZS EV | 768 | 5.2% |
| Tesla Model 3 | 670 | 4.5% |
| Volvo XC40 | 325 | 2.2% |
| Volvo C40 | 200 | 1.4% |
Source: carnewschina.com
Tesla
Keen on maintaining a leader role in Thailand EV sales, Tesla has decided to open shop in Bangkok. This would make Thailand the first Southeast Asian country with a dedicated “flagship store,” which, according to analysts at Roland Berger, will be a test case for the SEA region.
Tesla is more expensive than its Chinese rivals, with prices starting around 1.96 million baht (Model Y) and 1.76 million baht (Model 3), or respectively $56,500 and $50,700. Nonetheless, the brand is popular with Thailand’s rising middle class and could become a valid alternative for the Toyota Camry, popular with the local middle class and the go-to management car, which is sold for (depending on engine and version) 1.6 million baht.
For the Fleet Manager
Alongside the flagship store showroom, Tesla will be building a maintenance and repair shop, a parts inventory and charging infrastructure in its Bangkok facilities. Tesla will be the amongst the first major international players with infrastructure experience to offer charging, joining the local players PTT (the national energy company), the MEA (Metropolitan Electricity Authority) or the PEA (Provincial Electricity Authority).
What does it mean for the fleet manager? It indicates that the EV ecosystem has entered a phase of acceleration, be it mainly in Bangkok. Most of the company HQs are in the country’s capital, which means that for tool of trade cars and benefit cars that are operated withing the Bangkok perimeters, electrification is now a valid alternative.
Picture Credit: Shutterstock
