Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Bangkok Post
Bangkok Post
Business

Group seeks foreign funding for EVs

A Nissan Leaf EV is charged at the Bangkok International Motor Show 2022.

The Thailand Automotive Institute (TAI) vows to draw more foreign investment in electric vehicles (EVs) through a plan to build a test track for battery EVs, along with its 1.7-billion-baht project on the second-phase development of an automotive test track.

Cars can be tested in five categories -- brake performance, parking brake, dynamic platform, long distance and high speeds, as well as skidpad -- at the new facility in Chachoengsao, said Pisit Rangsaritwutikul, president of the TAI.

"The phase-two project has been delayed as the pandemic affected the government's financial support of the construction," he said.

The cabinet agreed to push ahead with the second-phase development, which is listed among projects in the 2023 budget bill now being considered in parliament.

"We expect the project to be finalised in the next two years," said Mr Pisit.

The automotive test track can support the growth of EVs because the government also plans to build a test track for battery EVs, also known as BEVs.

"The government will allocate a budget worth 400 million baht for BEV testing facility development in addition to the 1.7-billion-baht budget," he said.

The first-phase automotive test track, which was launched in 2015, is located on 1,234 rai of land in Chachoengsao. This track cost 3.7 billion baht and not only serves automakers, but also manufacturers in tyre-related industries under a plan to increase demand for natural rubber.

The tyre industry consumes around 70% of Thailand's total rubber output.

The TAI maintained its forecast for 2022 car production at 1.8 million units despite the semiconductor shortage.

"We learned some car manufacturers in Thailand temporarily stopped producing EVs because of the chip shortage, but we are still positive about production this year, believing it will reach the target," said Mr Pisit.

The TAI expects the semiconductor supply to recover in 2023 because the pandemic will eventually ease, allowing automakers to better cope with the backlog of demand.

The institute together with RX Tradex Thailand are organising the 2022 Automotive Summit on "Carbon Neutrality: The Turning Point of Future Vehicles".

The event is part of the 2022 Manufacturing Expo, to be held from June 22-25 at Bitec Bang Na.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.