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If the government’s support and promises for Electric Vehicles (EVs) stands, the auto market in Thailand shall bring a new landscape. With a target of 1.2 million electric vehicles and 960 charging stations nationwide by 2036, every auto model will have a good share. With the road map already laid down and automakers showing interest, the EVs market seems to be ready for takeoff.
With the government’s information on EVs spreading all over, Thailand’s EVs market is expected to reach 21.6% by 2025. Back in 2018, the Total Industry Volume (TIV) for EVs in stood at 8,802 units.
The Battery Electric Vehicles (BEVs) and Plug-In Electric Vehicles (PHEVs) penetrated into the Thailand market in 2018 but the uptake was too low (1%). Since the only available cars were only the high-end model (Porsche Panamera SE- Hybrid, Volvo XC60, XC90, S90, Mercedes C300e, BMW 330e, and Porsche Cayenne E-Hybrid) few people could afford them. The market is now becoming more saturated with automakers like Nissan, MG Motors, Jaguar and Audi making an entry.
Toyota’s EVs entry into Thailand Auto Market
Toyota is among the most popular brands when electric vehicles are mentioned. In 2009, Toyota Motor (Thailand) Co, Ltd. launched Camry Hybrid model – its first electric vehicle – in Thailand and the year after, the Prius 3rd Generation was selling in the Thai market.
Since then, Toyota has been leading Thai’s EVs market with all models of an electrified vehicle. They currently pride themselves in their five HEV models, BEV models, and seven Lexus HEV, which is the largest number amongst the auto manufacturers in Thailand.
Market Preparation for the EVs
Despite Toyota launching its first hybrid car back in 2003, the car’s uptake was slow. Going through their strategies, the EVs market wasn’t ready and thus production was limited. But with the European Union enforcing the standard emission rates to not more than 95 grammes of carbon dioxide for every kilometer traveled by a passenger car, the market has received a new breath.
By 2025, Toyota aims to make average annual global sales of 5.5 million EVs. In preparation for this, their aim (from last year) to launch 60 new EV models is much likely to yield results. Having introduced small version models some years back, their plan to prepare the market for luxury-electrified vehicles has begun with the launch of Lexus UX 300e. By introducing this model, Toyota also aims at enhancing public awareness for its electrified cars.
With the Thailand Board of Investment aiming at accelerating the production of EVs by 30% and promoting the supply chain in the country, Toyota is likely to achieve its efforts much easier.
Toyota’s Four EVs
To diversify their EVs auto market, Toyota will bring on board all its four EVs, which include plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), fuel cell electric vehicles (FCEVs), and battery electric vehicles (BEVs). With all the models being economical, environmentally friendly, and easy to maintain, Toyota is optimistic of getting the largest EVs market share in Thailand.
Conclusion
Toyota being the second-largest auto manufacturer and having the capacity and technology need to produce mass electric vehicles, their dream to sell over 5.5 million electrified cars by 2030 shall be realized.
And with auto dealers like Autofun ready to take up the supply chain challenges, Thailand’s government vision is a dream come true.
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Photo provided by the author.