Thailand steers towards its goal of becoming EV manufacturing hub
Thailand is bent on becoming Southeast Asia's electric vehicle manufacturing hub, despite an industry slowdown in other parts of the world. Thailand’s Board of Investment (BOI) has so far approved 24 projects by car makers that could see more than half a million EV units produced a year. In the next five years, the BOI expects to see all EV and EV-related investments amounting to more than US$5.5 billion. The automotive manufacturing sector currently contributes about 10% to Thailand’s GDP and employs more than 850,000 people. May Wong reports.
Thailand is bent on becoming Southeast Asia's electric vehicle manufacturing hub, despite an industry slowdown in other parts of the world. Thailand’s Board of Investment (BOI) has so far approved 24 projects by car makers that could see more than half a million EV units produced a year. In the next five years, the BOI expects to see all EV and EV-related investments amounting to more than US$5.5 billion. The automotive manufacturing sector currently contributes about 10% to Thailand’s GDP and employs more than 850,000 people. May Wong reports.