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17 Jan 2023

Econ Digest

EV charging points…urgent need to support the number of PHEVs and BEVs that may reach 300,000 by 2025

คะแนนเฉลี่ย

        Thailand is transitioning towards a green vehicle society. Kasikorn Research Center is of the view that the cumulative vehicle ownership of plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) could reach 300,000 units by 2025, with a PHEVs : BEVs ratio of 40:60, which will accelerate the domestic demand for electric charging. Therefore, the development of public charging points is urgently needed. However, determining how many public charging points will be enough in each area cannot only take into account the growth in the number of plug-in EVs in the area, but also the ratio of PHEVs : BEVs, the number of passenger/trucks that will be driving in the area after the switch to BEVs, the size of the area and population density of the area. These factors determine the characteristics of wall chargers that can be installed in residences, and affect the demand for charging points in public places.

        In comparison to the situation abroad, by calculating the population density and the number and types of cars available in Thailand, there should be at least 19,000 public charging points in Thailand, including no less than 14,000 in Bangkok and its vicinity, to accommodate the increase in the cumulative number of plug-in EVs.

        While the number of public charging points is projected to accelerate in the future, most pioneer PHEV and BEV buyers will likely install wall chargers in their residences, resulting in little need to potentially use public charging points outside of the home. There are also challenges in terms of cost effectiveness of investing in charging points in different locations, and it may be difficult to find new places for investment in Bangkok and its vicinity. For the rest of the country, even if space is available, the demand or frequency of use may not be sufficient to warrant the investment. Kasikorn Research Center believes that the cumulative number of charging points in various public places by 2025 may be lower than the above figure. Entrepreneurs planning to invest may need to carefully consider the various elements involved.

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