The Thai government is preparing a new package of support measures to assist electric vehicle (EV) investors facing increasing competition and macroeconomic challenges, the head of the Board of Investment (BOI) said on July 1st.

Speaking at the 11th International Electric Vehicle Technology Conference and Exhibition, BOI Secretary General Narit Therdsteerasukdi announced that the agency had finalised a proposal following direct consultations with individual automakers and industry groups such as the Electric Vehicle Association of Thailand (EVAT).

Narit stated that the forthcoming measures are intended to support the sector as the domestic industry faces technological change and tighter local credit conditions that are beginning to affect the consumer market.

The announcement reflects a policy development for Thailand's automotive sector. EVAT President Suroj Sangsnit said that Thailand's transition can no longer focus solely on introducing more battery-powered vehicles into the market.

"More importantly, it is about building a complete, competitive, and connected EV ecosystem that can support Thailand's long-term industrial growth," Suroj said, outlining localisation areas including battery cell systems, advanced software, component recycling, charging infrastructure, and local talent development.

According to the BOI, total promoted investments in the EV sector have reached THB 130 billion (US$ 3.9 billion), covering nearly 200 projects and supporting licensed domestic manufacturing capacity of more than 370,000 battery electric vehicles (BEVs) annually.

The country has deployed more than 22,000 charging stations, including 10,000 fast-charging outlets. According to BOI data, electrified mobility solutions accounted for more than 40% of total new vehicle registrations last year. The data showed that BEVs accounted for nearly 20% of the market, compared with less than 1% five years ago.

Hybrid electric vehicles represented more than 21% of new registrations, while plug-in hybrid vehicles accounted for 3% of the market. Narit also noted that the forthcoming policy will prioritise mandatory domestic sourcing, foreign-local joint ventures, upgrades to automated manufacturing facilities, and the expansion of testing capabilities to include advanced driver assistance systems and autonomous mobility platforms.