Amidst the increased focus globally on respecting and protecting human rights, in a recent seminar organized in Thailand, the special advisor to the Prime Minister of Japan responsible for international human rights matters announced the adoption of the Guidelines on Respect for Human Rights in Responsible Supply Chains by the Government of Japan.
The year 2022 marks a noteworthy year for a quantum leap in Thailand’s electric vehicle market. Against the backdrop of Thailand’s commitment to carbon neutrality and net-zero greenhouse gas emissions at COP26, combined with the unexpected uncertainty in oil and gas prices, Thailand’s EV market has accelerated to a new peak. Providing that the 30@30 goal under the national EV roadmap (i.e., to raise the proportion of zero-emission EVs to 30% of all domestic vehicle production by 2030) goes as planned, we take a look at what to expect in Thailand’s EV space, along with what has been happening during the first half of 2022.
Amidst the surging interest in environmental, social and governance considerations, the Ministry of Industry has revised the obligations under its notification on certain factory operators in monitoring and reporting air pollution data. The aim of this notification is to bring up to date the current requirements, extend the coverage of applicability and help improve the availability of emission data to the public.
The ecosystem of the electric vehicle (EV) market is huge and requires significant investment. While the market forecast is bright, many existing players are still waiting for the right time to invest, not to mention new players considering entering into this emerging market. One of the key drivers to activate the consumers’ buying motivation, the primary factor for advancement of the EV market to the next stage, involves financial incentives.
Among the major elements of CASE, the “E” (Electrification) is the most discussed element to date. Electric vehicles (EVs) are expected to have the largest market impact on the automotive industry in the near future as well as contribute to the transformation in the structure of the global automotive supply chain.
If you are a manufacturer of electric vehicles or related parts, you should be interested in the new incentives discussed below.
Against the backdrop of the Thai government’s policy to promote electric vehicles (EV) across the board and to create an EV manufacturing regional hub, the Thailand Board of Investment (BOI) recently announced a new investment promotion package for EV.