Gasgoo Munich- At the Auto Industry Overseas Expansion Innovation Conference on Nov. 1, co-hosted by the Chebaihui Research Institute and Hainan Qinglan Zhilian Technology, Chen Weili outlined Thailand’s EV foundations and investment incentives. Chen, who heads the Thailand Board of Investment's Guangzhou office, noted that Chinese automakers including BYD, Changan, GAC Aion, Great Wall Motor, and Chery have all set up local operations.
Chen Weili, Director of the Thailand Board of Investment Guangzhou Office; Photo credit: Chebaihui Research Institute
Thailand already boasts a mature manufacturing base, a deep supplier network, and a seasoned workforce, Chen said. Beyond its 70 million residents, the country serves as a gateway to more than 600 million consumers across the ASEAN market. It also holds 17 free-trade agreements covering 24 economies.
The latest figures tell a shifting story. From January through August 2026, Thailand produced over 955,000 vehicles — a 0.7% annual gain — while domestic sales climbed 16% to 465,000 units. Exports slipped 6.6% to just over 563,000 units. Meanwhile, electrified models — spanning pure EVs, hybrids, plug-ins, and range extenders — topped 258,000 sales, claiming 55.5% of the market. Pure EVs alone now account for nearly 30% of new registrations, up from 10% in 2022.
Chinese investment in Thailand keeps building. Citing official data, Chen said project applications from Chinese investors have topped 2,700 since 2021, totaling 136 billion yuan. The pace is accelerating: filed projects surged from 108 in 2022 to 970 in 2025, with another 321 applications logged in the first half of 2026.
On the policy front, the Thailand Board of Investment (BOI) backs EV investments across the entire value chain — from vehicles and batteries to key components and charging infrastructure. Qualifying projects land corporate income tax holidays of 3 to 13 years, duty-free imports on eligible machinery and certain raw materials, and the right to set up wholly foreign-owned entities.
Local content is the policy’s north star. Under the EV 3.5 scheme, participating automakers must build two vehicles domestically for every one they import. Come 2027, that ratio tightens to three local units per import. The BOI is also pushing companies to automate production, lift local content ratios, and link large manufacturers with domestic small and midsize suppliers.
