Bangkok: The Board of Investment (BOI) is actively engaging with leaders from the automotive sector to formulate a strategic package aimed at bolstering the electric vehicle (EV) industry, with plans to present these recommendations to the incoming government.
According to Thai News Agency, the BOI recently convened a forum with key automotive industry executives to deliberate on the future trajectory of the automotive industry amidst prevailing challenges. Discussions centered around three primary proposals: sustaining measures to promote electric vehicles (xEVs), invigorating the domestic car market, and enhancing the Thai automotive supply chain through localization. These proposals are intended to form a comprehensive support package for the automotive industry, which will be submitted to the new government.
Mr. Narut Teodsathirasak, Secretary-General of the BOI, disclosed that the forum, held on March 4, 2026, included prominent figures such as Mr. Suwat Supakarndechakul of the Thai Automotive Industry Association (TAIA), Mr. Suroj Saengsanit of the Thai Electric Vehicle Association (EVAT), Mr. Sompol Thanadamsak of the Thai Auto Parts Manufacturers Association (TAPMA), and Ms. Yupin Boonsirichan from the Federation of Thai Industries. The meeting aimed to gather insights and proposals from the private sector to develop systematic support measures that would facilitate the industry's transition and sustain Thailand's status as a leading global automotive manufacturing hub.
The proposals from the meeting emphasized three key initiatives. Firstly, the continuity of measures to promote electric vehicles (xEVs), encompassing investment, production, export promotion, and usage, is vital for the ongoing development of Thailand's EV industry and maintaining sustainable investment momentum. Secondly, stimulating the domestic automotive market is crucial due to challenges like household debt and stringent lending standards, which have led to a significant contraction in the market, especially for pickup trucks. The private sector advocates for measures such as increased tax-deductible car purchase expenses, trade-in programs for old vehicles, and expanding the proportion of EVs in government fleets. Lastly, upgrading Thailand's automotive supply chain through localization is suggested by offering special incentives for domestically produced vehicles and encouraging the use of domestic parts in EV manufacturing.
In recent years, the Thai government, through the National Electric Vehicle Policy Committee (EV Board), has consistently implemented supportive measures for the EV sector. These efforts have encompassed various types of EVs as well as critical components like batteries and motors. The government has also promoted the transition from internal combustion engine vehicles to xEV technology, aligning measures with investment trends and market conditions, while prioritizing local content to integrate Thai parts manufacturers into the modern automotive supply chain.
Mr. Narut emphasized the importance of this transition for Thailand's automotive industry, stating that the BOI is committed to collaborating with the industry to develop comprehensive support measures. This collaboration aims to stimulate domestic market growth, promote exports, ensure fair competition, and integrate Thai entrepreneurs into global supply chains, thereby enhancing Thailand's competitiveness as a global automotive manufacturing hub.