Thailand’s Assurance to Support Japanese Carmakers Amid Shift to EVs

During the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Week in San Francisco, Thailand’s Prime Minister, Srettha, pledged his commitment to support Japanese car manufacturers based in Thailand, ensuring their continued success as the country shifts its focus towards electric vehicles (EVs). As Thailand embraces its “30@30” policy aimed at increasing EV production to 30% of the total vehicle output by 2030, Srettha assured Kishida, the Japanese Foreign Minister, that the local government would not neglect Japanese automakers that continue to manufacture internal combustion engine (ICE) vehicles in Thailand.

As the global automotive industry rapidly adopts electrification as a sustainable alternative to conventional vehicles, Thailand has implemented an array of incentives to promote and enhance the transition to EVs. These incentives aim to solidify Thailand’s position as a regional hub for battery-electric vehicle production. While directing significant efforts towards achieving this goal, the Thai government acknowledges the importance of maintaining support for established Japanese manufacturers that still rely on ICE technology.

The commitment made by Srettha exemplifies Thailand’s dedication to fostering partnerships with Japanese carmakers and ensuring their seamless transition into the EV era. By endorsing a dual-track approach, Thailand aims to leverage its role as an upcoming EV manufacturing center while safeguarding the interests of traditional automotive manufacturers, which contribute significantly to the country’s economy.

Frequently Asked Questions (FAQ)

1. What is Thailand’s “30@30” policy?

Thailand’s “30@30” policy is a strategic initiative that aims to increase the production of electric vehicles (EVs) to 30% of the total vehicle output in the country by 2030. This policy seeks to position Thailand as a leading regional hub for battery-electric vehicle manufacturing.

2. What incentives has Thailand implemented to boost EV production?

Thailand has introduced a range of incentives to promote the adoption and production of electric vehicles. These incentives include tax benefits, investment privileges, manufacturing support, and research and development grants. These measures are designed to attract investments, drive technological advancements, and propel the growth of the EV industry in Thailand.

3. How does Thailand plan to support Japanese car manufacturers?

Thailand’s Prime Minister, Srettha, has assured Japanese car manufacturers that the government will continue to support them even as the country focuses on EV production. The Thai government recognizes the significance of maintaining a favorable environment for established Japanese automakers, ensuring their continued success and contribution to the country’s economy.

4. What is Thailand’s goal in becoming an EV manufacturing hub?

Thailand aims to establish itself as a regional hub for battery-electric vehicle production, attracting investments and talent to drive the growth of the EV industry. By positioning itself as a key player in the global transition to electric mobility, Thailand aims to enhance its economic standing and promote sustainable transportation solutions.