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30 Dec 2022


Sales of PHEVs and BEVs in Thailand projected to reach 300,000 units by 2025 Despite increased demand for electric charging, there are investment risks in public charging points (Current Issue No.3379)


        Thailand is transitioning towards a green vehicle society. KResearch is of the view that domestic sales of plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) may reach 300,000 units by 2025, suggesting that the demand for electric charging in the country will substantially increase from now on.  
        Therefore, the development of related ecosystems is urgently needed such as public charging points. In comparison to cases abroad, there should be at least 19,000 public charging points in Thailand, 14,000 of which might be in the Bangkok Metropolitan Region, to facilitate the rising number of EVs.
Although the number of public charging points is projected to accelerate in the future, first-time PHEV and BEV buyers will likely use their own wall chargers installed at homes instead, hence the number of charging points at various public places may be lower than the above figure.   
        Given this, related investors may have to consider the location for their charging stations more carefully, especially in Bangkok to avoid a number of risks, including liquidity. However, investors who have the potential to make the first move and survive this challenging time are those having adequate financial resources and in the related businesses such as energy, shopping malls, large retail and hotels.