Thailand has secured more than US$ 4.1 billion in investment pledges across its electric vehicle (EV) supply chain as global automakers continue to realign production networks towards clean-energy technologies.

According to data released by the Thailand Board of Investment (BOI), the capital investment spans 198 projects across the EV ecosystem, including battery electric vehicles (BEVs), hybrid systems, battery manufacturing, critical components, energy storage systems and charging infrastructure.

The increase in investment forms part of a broader shift by global automakers to diversify supply chains away from geopolitical hotspots and establish regional manufacturing hubs in Southeast Asia. Thailand's policy framework supports a transition across multiple propulsion technologies, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and BEVs.

Speaking at the International Electric Vehicle Technology Conference (iEVTech) in Bangkok, BOI Secretary-General and National EV Policy Board Secretary Narit Therdsteerasukdi stated that the country's approach is intended to support both established manufacturers and new entrants while increasing local industry participation.

"The transition to electric vehicles is both a global challenge and a significant opportunity, we must choose to be builders, not just consumers. By supporting all technologies - hybrid, plug-in hybrid and battery electric - we enable established manufacturers and new entrants to invest and expand simultaneously, while supporting the integration of Thai suppliers into the global value chain," Narit said.

Electrified vehicles exceed 40% of new registrations

Thailand's multi-technology strategy is reflected in the domestic market. In 2025, electrified vehicles accounted for more than 40% of all new vehicle registrations in the country. HEVs represented the largest share at 21.8%, followed by BEVs at 19.6%. The investment pipeline includes projects across multiple levels of the supply chain rather than concentrating solely on vehicle assembly operations.

- Battery electric vehicles: BEV projects attracted US$ 1.18 billion across 18 projects. These investments are expected to establish annual domestic production capacity of more than 370,000 vehicles.

- Hybrid vehicles: HEV and PHEV projects collectively secured US$ 1.18 billion across 14 projects, building on the manufacturing presence of Japanese automakers operating in Thailand.

- Batteries and energy storage: Battery and Energy Storage System (ESS) projects accounted for US$ 1 billion across 57 projects, supporting localised battery cell and battery pack production.

- Critical EV components: Investments totalling US$ 373 million were committed across 49 projects focused on components including drive motors, battery management systems (BMS) and power control units.

- Charging infrastructure: Charging infrastructure projects received US$ 292 million across 42 projects. These investments will support the deployment of more than 22,900 charging stations nationwide, including over 10,000 high-speed DC fast chargers.

Global automakers expand local manufacturing

Thailand's regulatory and investment framework has supported the establishment of local production operations by several international manufacturers. Mercedes-Benz Manufacturing began local BEV production in Thailand in 2022. Chinese manufacturers including BYD, Great Wall Motor, SAIC Motor and Aion established domestic assembly operations in 2024.

Manufacturing operations by Changan Auto and EV Primus commenced in 2025. Further production roll-outs are planned for 2026 by South Korea's Hyundai Mobility and China's Omoda & Jaecoo. Collectively, these manufacturing investments have created more than 16,000 local jobs.

Increasing local supplier participation

The BOI has also sought to increase domestic participation in the EV sector through supplier development initiatives.

Through 18 "Sourcing Day" events, the agency has facilitated joint ventures and business matchmaking between Thai suppliers and multinational automakers. More than 800 qualified Thai parts manufacturers have been matched with global vehicle producers, resulting in over 1,200 business connections.

The BOI estimates that these sourcing relationships will generate more than US$ 1.8 billion in domestic procurement value while helping traditional tier-one and tier-two suppliers transition into the EV supply chain.

"Our goal is to ensure that local industry and the workforce are the drivers of this next phase of development," Narit said.

He further added that Thailand is leveraging six decades of automotive manufacturing experience in the mobility sector.

"Ultimately, we are leveraging sixty years of automotive expertise to position Thailand at the forefront of global mobility," Narit said.