• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Thursday, July 10, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home Electric Vehicles

Thailand becomes Southeast Asia’s EV powerhouse, but a price war looms

David Ijaseun by David Ijaseun
February 1, 2025
in Electric Vehicles, Premium
0
Thailand EV
734
SHARES
8.3k
VIEWS
Share on FacebookShare on Twitter

Thailand is on track for a major electric vehicle (EV) sales boom, with demand expected to rise by 40% in 2025. Industry leaders predict over 100,000 EVs will be sold this year, reversing an 8% drop in 2024. But experts warn that the surge in production could spark a fierce price war, squeezing profit margins in an already struggling auto market.

The sharp increase is fueled by a national incentive programme that requires automakers to produce 1.5 local EVs for every imported unit. Companies that fail to meet this target face hefty penalties. The policy, alongside government subsidies of up to 150,000 baht ($4,400) per car, has cemented Thailand’s status as Southeast Asia’s largest EV market, with 70,000 new EVs registered last year.

READ ALSO

Porsche absorbs $351m tariff costs to shield U.S. buyers from price hikes

Lucid sets new Guinness Record with 747-mile drive, leaving Tesla in the dust

Aggressive Price Cuts Threaten Market Stability

While the incentive programme has boosted production, it has also intensified price competition. Chinese automakers, which dominate Thailand’s EV market, have already begun slashing prices to stay competitive. Great Wall Motor cut the price of its Ora Good Cat model by 270,000 baht ($7,500), while GAC AION reduced the cost of its AION Y Plus by 166,000 baht ($4,600).

“Price wars will be prolonged, aggressive, and more widespread,” warned Tita Phekanonth, a senior analyst at Siam Commercial Bank’s Economic Intelligence Unit. She added that even traditional petrol-powered vehicles might see price cuts as competition heats up.

Thailand’s Role as a Regional EV Hub

As the second-largest economy in Southeast Asia, Thailand is a key player in the global auto industry, exporting nearly 60% of locally manufactured vehicles. The Board of Investment (BOI) has made adjustments to the incentive programme, including extended deadlines for battery production and new incentives for hybrid cars, to prevent an oversupply crisis.

Newly registered cars in Thailand (October 2023 - December 2024)Source: Reuters
Newly registered cars in Thailand (October 2023 – December 2024) Source: Reuters

BOI chief Narit Therdsteerasukdi stated that EV companies are set to begin exporting from Thailand this year, which could ease concerns over excess production. “We expect to see more EV exports in 2025, which should help balance the domestic market,” he said.

Read more on Thailand’s aviation, tourism industry thrives, reaping bountifully from Intra-Asia travels

Tags: Chinese EVselectric vehiclesHeadlineThailand

Related Posts

Porsche 911 by Singer
News

Porsche absorbs $351m tariff costs to shield U.S. buyers from price hikes

July 10, 2025
Lucid Motors
Electric Vehicles

Lucid sets new Guinness Record with 747-mile drive, leaving Tesla in the dust

July 10, 2025
Electric rush: American car buyers race to beat end of $7,500 EV tax credit
Electric Vehicles

Electric rush: American car buyers race to beat end of $7,500 EV tax credit

July 10, 2025
Christian Horner, sacked Red Bull team principal
News

End of an era: Why Red Bull sacked team principal Horner after 20 years, 124 wins

July 9, 2025
The automaker power shift: Who’s winning the U.S. market so far in 2025?
Business

The automaker power shift: Who’s winning the U.S. market so far in 2025?

July 9, 2025
Over 100K sold: Why used electric vehicles are in high demand
News

Over 100K sold: Why used electric vehicles are in high demand

July 9, 2025
Next Post
F1 (Formula 1) race track in South Africa

By Fire or by force: South Africa’s Minister reveals plan to bring F1 to Africa after 30 years

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

Toyota bets on hybrids as electric vehicle demand hits a speed bump

Toyota bets on hybrids as electric vehicle demand hits a speed bump

August 25, 2024

What It’s Really Like To Have Dinner with Best Burger In New York

May 3, 2023
Lewis Hamilton Ferari

Lewis Hamilton shocks F1 world with Ferrari move in 2025

February 23, 2024
Cadillac sets new standard in Luxury EVs with Escalade IQ

Cadillac sets new standard in Luxury EVs with Escalade IQ

May 24, 2023

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Why Volkswagen, Volvo, Toyota recall nearly 7,000 vehicles in South Africa
  • Porsche absorbs $351m tariff costs to shield U.S. buyers from price hikes
  • Lucid sets new Guinness Record with 747-mile drive, leaving Tesla in the dust
  • Electric rush: American car buyers race to beat end of $7,500 EV tax credit

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In