Thailand has attracted more than $4.1 billion (about 137 billion baht) in investment commitments into its electric vehicle (EV) supply chain, cementing its position as Southeast Asia’s leading automotive manufacturing hub as the global industry accelerates its transition toward next-generation mobility.
According to the latest data released by the Thailand Board of Investment (BOI), the investment includes 198 projects covering the entire EV ecosystem, including battery electric vehicles (BEV), hybrid powertrain, battery manufacturing, critical automotive components and EV charging infrastructure.
The investment surge comes as global automakers continue to diversify their manufacturing and supply chains amid changing geopolitical dynamics, with Southeast Asia emerging as a major destination for next-generation automotive production.
Unlike many regional markets, which focus primarily on battery electric vehicles, Thailand has taken a technology-neutral approach to electrification. Its policy framework supports the development and production of hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs), enabling a broader and more flexible transition towards clean mobility.
“The transition to electric vehicles is both a global challenge and a huge opportunity,” said Mr. Narit Therdsathirasukdi, Secretary General of the Thailand Board of Investment (BOI) and Secretary of the National EV Policy Board, speaking at the International Electric Vehicle Technology Conference (iEVTech) in Bangkok. “We must choose to be builders, not just consumers. By supporting all technologies – hybrid, plug-in hybrid and battery electric – we allow old players and new entrants to invest and grow together, lifting Thai suppliers up the global value chain.”
This strategy is already proving profitable in the market. In 2025, electrified vehicles account for more than 40% of all new vehicle registrations in Thailand, with HEVs leading with 21.8%, followed by BEVs at 19.6%.
The $4.1 billion investment pipeline is highly distributed, showing deep integration across the supply chain rather than top-tier vehicle assembly alone:
Battery EV (BEV): $1.18 billion (about 39.5 billion baht) in 18 projects, installing annual domestic production capacity of more than 370,000 units. Hybrid (HEV and PHEV): A combined investment of $1.18 billion (about 39.3 billion baht) in 14 projects, capitalizing on Japanese automakers’ legacy hybrid technologies. Battery and Energy Storage Systems (ESS): $1.00 billion (about 33.5 billion baht) in 57 projects, securing localized battery cell and pack manufacturing. Key components: $373 million (about 12.5 billion baht) across 49 projects, targeting high-value parts such as drive motors, battery management systems (BMS), and power control units. Charging infrastructure: $292 million (about 9.8 billion baht) across 42 projects, financing more than 22,900 charging stations across the country, including more than 10,000 high-speed DC fast chargers.
This regulatory framework has led many major global automakers to localize production in Thailand. Mercedes-Benz Manufacturing pioneered local luxury BEV production in Thailand in 2022, followed by a large wave of Chinese EV makers – including BYD, Great Wall Motor, SAIC Motor and Aon – that set up domestic assembly lines in 2024. This momentum continued through 2025 as Changan Auto and EV Primus began their respective manufacturing operations, culminating in production rollouts by South Korea’s Hyundai Mobility and China’s Omoda in 2026. And Jacu. These manufacturing investments have resulted in the creation of over 16,000 local jobs.
BOI has also facilitated joint ventures and matchmaking through 18 “Sourcing Day” programs. These sessions have connected over 800 qualified Thai parts manufacturers with multinational automakers, resulting in over 1,200 business matches. BOI estimates that these sourcing links will generate more than $1.79 billion (about 60 billion baht) in domestic purchasing value, transitioning traditional tier-1 and tier-2 suppliers into the high-tech EV supply chain.
“Ultimately, we are leveraging sixty years of automotive expertise to position Thailand at the forefront of global mobility,” said Mr Narit. “Our goal is to ensure that local industry and the local workforce are driving this next chapter of growth.”