Mercedes-Benz (Thailand) is seeking more local business partners for joint investment in electric vehicle (EV) charging facilities to serve the growing domestic EV market.
Thailand is being developed into a high-potential EV market, following the government's clear policy to strengthen the EV industry amid the global trend for using more zero-emission cars, said Martin Schwenk, president and chief executive of Mercedes-Benz (Thailand).
Last year, the cabinet approved a package of incentives including tax cuts and subsidies to promote EV consumption and production between 2022 and 2023. The subsidies range from 70,000 baht to 150,000 baht depending on the type and model of vehicle, while there are lower excise tax and import duties on completely knocked-down and completely built-up units.
"The company will continue to invest in Thailand, with the aim to become the leader in the Thai EV market," he said.
Mercedes-Benz is cooperating with PTT Oil and Retail business Plc, a subsidiary of national oil and gas conglomerate PTT Plc, to jointly conduct a feasibility study on EV charging station development to serve EV drivers.
"We initially plan to increase the number of EV charging stations by working with four dealers who sell our EVs under the EQ brand," said Mr Schwenk.
There are currently 32 EQ dealers nationwide.
Mercedes-Benz is also interested in battery manufacturing in Thailand and sees it as a long-term investment project.
At present, the firm, together with a local partner, runs a factory in Samut Prakan that imports battery components for assembly.
In 2022, Mercedes-Benz saw its total sales, including oil-powered cars, in Thailand grow by 34%, with a total of 13,182 vehicles registered.
Car sales in what the firm calls the "Dream Car" segment, including CLS and C-Coupe models, recorded sales growth of 28%, while the contemporary luxury segment, including the new C-Class, E-Class, and S-Class, grew by 12%, followed by the top-end luxury segment, such as the Mercedes-Maybach, which saw sales growth of over three times the level recorded the previous year.
Globally, the firm achieved sales growth of over 15% in 2022 by selling over 2,043,900 passenger cars.
It saw a significant increase in sales of battery EVs under the Mercedes-EQ brand, with a growth rate of 124% and sales of more than 117,800 cars worldwide.
