Part 3/12:
Thailand’s focus is not limited to vehicle manufacturing. The BOI has promoted over 40 projects dedicated to battery production, aiming to establish the country as a regional hub for EV batteries. With an estimated investment of US$5.5 billion over the next five years, the sector is poised for rapid growth.
This strategic push is complemented by the presence of major international players. For instance, BYD, the Chinese EV giant that overtook Tesla as the world's top EV manufacturer, opened its first Thai plant in Rayong in July 2023. The facility spans 950,000 square meters—about 132 football fields—and has already delivered its 8 millionth EV. It has the capacity to produce 150,000 units annually, signaling a robust commitment to Thailand’s EV ecosystem.