Summary
Thailand’s automotive industry is undergoing a major transformation as the country shifts
from its traditional role as a regional ICE vehicle manufacturing hub toward electrification.
Production has fallen sharply since 2022 due to weak domestic demand and reduced export
activity. Despite these headwinds, substantial investment continues to flow into the sector,
primarily for EV assembly, batteries, and key components, as major Chinese manufacturers
establish local production facilities.
The transformation presents compelling opportunities across the EV value chain for players
who can navigate the intensifying competition and rapid technological change.
