This is an extract from a recent report “Accelerating Thailand’s E-Mobility Transition Policy Assessment and Action Plan 2025–2035” published by Asian Development Bank. 

Electric Vehicles, Charging Infrastructure and Production Capacities 

Thailand’s transport sector is experiencing rapid growth in vehicle ownership and a gradual shift toward electrification. By 2035, vehicle registrations are projected to reach 68.2 million, and with further growth, the motorization rate is estimated to reach 886 vehicles per 1,000 people by 2050. As of November 2024, the country had 46.9 million vehicles, mainly passenger cars and motorcycles, with road transport handling 80% of freight and passenger movement. The electric vehicle (EV) market is expanding rapidly but unevenly across segments. In 2024, EV registrations stood at 700,000, accounting for 1.5% of the total vehicle stock. Battery electric vehicles (BEVs) have shown exceptional growth with a compound annual growth rate (CAGR) of 143.6% since 2020, while hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs) grew at 28.2% and 25.7%, respectively. 

Thailand’s EV 3.0 policy targets the production of 3.04 million zero-emission vehicles (ZEVs) by 2035— an ambitious plan that may prove challenging, particularly for slower-moving segments such as tuktuks, buses, and trucks. Thailand has made notable progress in positioning itself as a regional hub for EV production, supported by the government’s targets under the National EV Roadmap, which aims for 30% of all vehicles produced domestically to be electric by 2030. However, EV adoption among consumers remains limited, constrained by high up-front costs and insufficient charging infrastructure. To address these challenges, the government is expanding the national charging network and providing targeted financial incentives. In parallel, Thailand’s Bio–Circular–Green strategy emphasizes the development of sustainable transport systems, the promotion of EVs, and the expansion of public transport networks.

Existing and Projected Growth in Transport

Thailand’s mobility sector plays a significant role in driving economic growth by supporting trade, tourism, and both regional and urban connectivity. As a major logistics hub in Southeast Asia, the country relies heavily on its transport infrastructure to link economic zones, urban and rural areas, and facilitate access to global markets. In 2022, the sector contributed 4.9% to the national gross domestic product, underscoring its vital role in domestic and international supply chains.

Road transport dominates the nation’s mobility sector, accounting for around 80% of freight and passenger movements, most of which rely on internal combustion engine (ICE) vehicles. As of November 2024, Thailand had 46.8 million registered vehicles, with an estimated motorization rate of 642 vehicles, up from 596 vehicles in 2022. Vehicle distribution in Thailand is heavily dominated by passenger cars and motorcycles, which together account for nearly 95% of the national vehicle stock. Of the total, motorcycles represent 52.2%, passenger cars 42.6%, trucks 2.8%, buses 0.3%, and tuktuks 0.04%. 

Since 2008, vehicle registrations across all segments have grown with a CAGR of 3.7%. Passenger cars have experienced the highest growth rate at 5.2%, followed by trucks (3.3%) and motorcycles (2.5%). Tuktuk registrations have declined at a rate of 0.3%, according to the Electric Vehicle Association of Thailand (EVAT), largely due to complex registration processes and regional restrictions. Similarly, both private and public buses have recorded limited growth of 1.1% since 2010, leading to delays in fleet replacement and the continued operation of aging vehicles. There are 0.8 public buses per 1,000 population in Thailand, ranking second in the Association of Southeast Asian Nations (ASEAN) region after Singapore. Assuming the current CAGR continues through 2035, Thailand is projected to have 57 million registered vehicles by 2030 and 68.2 million by 2035. The motorization rate is set to grow to 886 vehicles per 1,000 population by 2050. This rapid growth underscores the need for a well- informed strategy and robust policy framework to mitigate environmental impacts. The plan should prioritize clean modes of transport, effective travel demand management, and the promotion of shared and public transport systems.

Existing and Projected Growth for Electric Vehicles

As of 2024, Thailand had a total of 700,000 accumulated EV registrations, accounting for 1.5% of all registered vehicles. In terms of vehicle types, passenger cars dominate EV adoption, representing 90% of registered EVs, followed by motorcycles (9.4%) and buses (0.4%). Trucks and tuktuks each contribute 0.1% of the total. The distribution of EV technologies also varies by segment. As of August 2024, all registered PHEVs were passenger cars. Among HEVs, 97.9% were cars and 2.1% were motorcycles. For BEVs, 60.9% were cars, 28% motorcycles, 0.5% tuktuks, 1.3% buses, and 0.3% trucks. Thailand’s adoption of EVs has been driven by supportive government policies over more than a decade, evolving through three phases: the initial kickoff, the EV 3.0 policy introduced in 2022, and the EV 3.5 policy launched in 2024. Thailand’s policy-driven transition to e-mobility has been led by HEVs, which dominate the current EV landscape. HEVs account for 62.7% of the total EV stock, with over 400,000 registrations as of August 2024. Of these, 200,000 HEVs were registered between 2020 and 2024, and another 200,000 prior to 2020. BEVs are the next most prominent category, representing 28.7% of the EV stock (equivalent to 0.43% of total vehicle stock) with more than 200,000 registrations. 

As of August 2024, 68,960 BEVs were sold, comprising mostly passenger cars, followed by motorcycles, trucks, and tuktuks. PHEVs make up 8.6% of the EV stock, totaling approximately 60,000 registrations.12 These figures highlight the continued dominance of hybrid technologies alongside the growing market penetration of BEVs. In terms of growth performance, accumulated EV registrations have increased at a CAGR of 38.1% since 2020. Growth rates differ across segments, with BEVs expanding the fastest at 143.6%, followed by HEVs (28.2%) and PHEVs (25.7%). Under the EV 3.0 policy, the government has set an ambitious target for 30% of all vehicles produced domestically to be electric by 2030. Segment-specific targets have been established to track progress toward a ZEV transition. By 2025, the government aims to electrify 225,000 passenger cars, 360,000 motorcycles, 18,000 buses, and 500 tuktuks, totaling 603,500 ZEVs. These targets increase to approximately 1.13 million ZEVs by 2030 and 3.04 million by 2035. 

Achieving these targets will require substantial year-on-year growth, underscoring the need for a detailed feasibility analysis and action plan. The e-car segment has demonstrated strong growth, with a CAGR of 158.4% between 2022 and 2024. To meet the 2030 target of 44,000 registrations, an annual CAGR of 37.7% will be required, while achieving the 2035 target of 1.15 million registrations will necessitate a CAGR of 30%. These projections suggest that the 2030 and 2035 targets for the e-car segment are realistically attainable if the current growth trajectory continues. The e-motorcycle segment recorded an annual CAGR of 53.5% between 2022 and 2024. Achieving the 2030 target of 650,000 registrations will require an accelerated CAGR of 74.1%, or 38.3% higher than the observed rate. In contrast, the 2035 target of 1.8 million registrations will require a CAGR of 48.4%. This indicates that while the 2035 target is attainable if existing growth trends continue, additional measures will be needed to meet the 2030 target. 

Typically, new technologies follow an S-curve diffusion pattern, with slow growth in the early stages as markets test new solutions, followed by rapid adoption once a tipping point, often around 5% of sales, is reached. The tuktuk segment has recorded a decline, with a CAGR of –19.8% between 2022 and 2024. To achieve the 2030 target of 2,200 registrations, the segment will need to achieve a turnaround to reach a CAGR of 57.2%. Similarly, achieving the 2035 target of 2,800 registrations will require a CAGR of 30.8%. As only 47.6% of tuktuks were electric as of 2024, targeted government support will be essential to accelerate electrification in this segment. The government has combined the e-bus and e-truck segments to establish common targets for 2030 and 2035. Between 2022 and 2024, the combined segment recorded negative sales growth. Achieving the 2030 target will require a market-driven approach to accelerate adoption rapidly, while meeting the 2035 target will demand a more comprehensive strategy to address existing challenges, reverse the decline, and sustain momentum. Achieving Thailand’s 2030 and 2035 EV targets will require focused, segment-specific strategies. While e-cars and e-motorcycles are broadly on track, the e-tuktuk and e-bus/e-truck segments need urgent policy support and infrastructure investment to drive electrification.

Charging Infrastructure

According to EVAT, as of August 2024 there are 10,846 EV charging outlets at 3,175 locations nationwide, including 5,388 slow chargers and 5,458 fast chargers. The current ratio is 24 EVs per charging outlet. When focusing solely on BEVs, the ratio improves to 18 BEVs per outlet, more favorable than the global average of BEVs per public charging point, indicating relatively favorable infrastructure support for fully electric vehicles compared to the other markets. In Thailand, charger types vary in capacity (kilowatts [kW]) based on whether they are fast or slow chargers. Direct Current Combined Charging System 2 (DC CCS2) chargers typically range from 120 kW to 180 kW, while DC CHArge de MOve (DC CHAdeMO) chargers range from 60 kW to 150 kW. Alternating Current (AC) Type 2 chargers operate between 7 kW and 22 kW. Higher-capacity chargers support fast-charging infrastructure, while lower-capacity chargers constitute the slow-charging network. While Thailand’s charging network is almost equally split between DC CCS2 and AC Type 2 systems, policies on charging infrastructure—covering speed, location, and typology—play an important role in improving network density and aligning charger distribution with future EV targets. The introduction of higher-capacity chargers could further enhance efficiency for e-buses and e-trucks.

Production Capacities

BEV production in Thailand remains at a nascent stage. As BEVs are a relatively new segment, the market initially depended on imports to meet demand. In 2023, companies receiving EV investment support produced only 164 BEVs. However, further government incentive measures have accelerated BEV adoption, attracting manufacturers to invest in local production. By May 2024, the Thailand Automotive Industry reported that 14 passenger BEV manufacturers, 2 commercial EV manufacturers, and 5 e-bus/e-truck producers had established or were in the process of setting up production lines in Thailand. As a result, the country’s domestic BEV production capacity is expected to reach about 600,000 units annually, with new production commencing in 2024 and 2025. The composition of Thailand’s auto market is undergoing a significant shift. In 2023, four BEV manufacturers based in the People’s Republic of China (PRC) ranked among the top 10 auto brands in the country, accounting for 21.9% of total sales, up from two manufacturers in 2021, which held the 4th and 10th positions.

As of 2023, PRC brands dominated the domestic passenger BEV market with an 82.4% share, while automakers based in the United States (US) accounted for 11.1%. As the largest automotive hub in Southeast Asia and the tenth largest globally, Thailand is well positioned to benefit from rising global EV demand. In 2023, the country exported a total of $562 billion worth of EV components, ranking third among exporters to Japan and ninth to the US. Its largest market was the PRC, which accounted for $171 billion in 2023. However, this rapid industrial expansion and domestic EV consumption brings new sustainability challenges. As EV adoption accelerates, effective management of end-of-life batteries will be essential to prevent environmental risks and recover valuable materials such as lithium, cobalt, and nickel. Establishing a robust battery recycling system, supported by clear regulations, safe disposal protocols, and incentives for circular economy practices, will be critical to ensuring sustainability in Thailand’s EV ecosystem. Drawing on international examples, such as the PRC’s mandatory battery recycling standards and the European Union’s Battery Directive, could help guide policy and infrastructure development in this area.

Key Findings

Thailand’s transport sector is undergoing a major transformation. Vehicle registrations have maintained a CAGR of 3.7% since 2008, led by passenger cars at 5.2%. As of November 2024, the vehicle stock reached 46.8 million, dominated by motorcycles (52.2%) and passenger cars (42.6%), reflecting the sector’s heavy reliance on road transport, which accounts for 80% of freight and passenger movements. By 2035, total registrations are projected to reach 68.2 million, with a motorization rate expected to reach 886 vehicles per 1,000 population by 2050. The EV market continues to expand rapidly but unevenly across segments. By 2024, EV registrations reached 700,000, representing 1.5% of the national vehicle stock. BEVs have recorded the highest CAGR of 143.6% since 2020, while HEVs and PHEVs grew at 28.2% and 25.7%, respectively. Under the EV 3.0 policy, Thailand aims to produce 1.12 million ZEVs by 2030 and 3.04 million by 2035. Achieving these targets will be particularly challenging for tuktuk and bus/truck segments, which require annual growth rates of 57.2% and 84.2%, respectively. These ambitious goals call for targeted policy and market interventions to accelerate adoption across all vehicle categories. 

Infrastructure development has advanced alongside market growth, with 10,846 EV charging outlets available nationwide as of 2024, equivalent to 18 BEVs per outlet. Domestic BEV production capacity is projected to reach 600,000 units annually by 2025, supported by 14 manufacturers. Continued scaling will be essential for self-reliance and localized EV production in line with the target defined under the EV30@30 policy. In 2023, EV component exports reached $562 billion, while PRC-based manufacturers captured 82.4% of Thailand’s BEV market, emphasizing the country’s growing role in the regional and global EV supply chain. As Thailand moves toward its 2030 and 2035 EV goals, a more balanced and adaptive policy framework will be needed to sustain momentum. Addressing lagging segments, deepening infrastructure coverage, and expanding domestic manufacturing will be key to achieving an inclusive and competitive e-mobility ecosystem.

Access the report here