Presented by Mr. Siamnat Panassorn, Public Relations, Electric Vehicle Association of Thailand (EVAT) on March 20, 2024

1. 20.03.2024
Siamnat Panassorn
Public Relations , Electric Vehicle Association of Thailand (EVAT)
CEO , Sun-up Recycling
Future Mobility Transformation in Thailand.

2. Agenda.
ASEAN & Thailand Automotive Industry
Electric Vehicle Association of Thailand (EVAT)
1
2
Thai Government’s ZEV Support Schemes
3
4
1
Thailand’s ZEV Target and Opportunities

3. 2
Agenda.
ASEAN & Thailand Automotive Industry
Electric Vehicle Association of Thailand (EVAT)
1
2
Thai Government’s ZEV Support Schemes
3
4 Thailand’s ZEV Target and Opportunities

4. 3
Established over 8 years ago
Since November, 2015
Over 390 members
Corporate : 273 companies
Individual : 116 members
30 Committee
From both Academic
& Industry
Goals
To promote the usage of EV in
Thailand, to reduce air pollution,
and to improve energy efficiency
in the Transport sector.
Electric Vehicle Association of Thailand (EVAT).
Background.

5. 4
Industry Transformation
& Business Development
Support
Academic & Human
Resources
Development
Electric Vehicle Association of Thailand (EVAT).
Organizational Divisions & Working Groups.
EV infrastructure
Development Support
Information Analysis &
Public Relations
WG 1: Conference & Seminar
WG 2: Training & Education
WG 3: Policies, Standards,
Transformational Supports
WG 4: Overseas Investment
Supports
WG 5: BEV Charging Solutions
WG 6: Battery Swapping for
electric motorcycles
WG 7: Information analysis
WG 8: Communications
& Public Relations

6. Agenda.
ASEAN & Thailand Automotive Industry
Electric Vehicle Association of Thailand (EVAT)
1
2
Thai Government’s ZEV Support Schemes
3
Thailand’s ZEV Target and Opportunities
4
5

7. EV Scenario in ASEAN is Very Vibrant.
Manufacturing Battery Electric Taxi
New Launch Electric 3-Wheelers Car Sharing
Source : Frost & Sullivan, Hyundai Mobis, Nikkei, the Guardian
Hyundai Mobis breaks ground for
battery production in Indonesia
Changan and GAC announces new
plant construction in Thailand
VinFast electric taxi to make Vietnam
debut ahead of EV rules
Tesla’s latest expansion to Malaysia
Thailand’s Tuk Tuk go green amid
rising demand for EVs
Singapore’s GetGo car sharing
raised$14.9 mio to expand EV fleet
6

8. NEW 4-WHEELER BEV REGISTRATIONS IN THAILAND
Percent of BEV registration in passenger car segment, 2019 – Jan 2024
7 Source: Thai Department of Land Transport, Marklines, Straitstimes, ABeam Consulting
NEW 4-WHEELER REGISTRATIONS BY COUNTRY
Number of new registrations in thousands, Q1-Q3 2023
50.4
19.2
10.2
4.8 3.6
Thailand Vietnam Indonesia Malaysia Singapore
Sales of BEVs have been rapidly growing in Thailand, propelling the country to
become a market leader in BEV sales in ASEAN
8% 9% 1% 1% 17%
2021
2020
2019 2022 2023
x Est. BEV Share in each country during Q1-Q3 2023
0%
5%
10%
15%
20%
12%
BEV market
share in 2023
Thousand cars

9. Thai Automotive Production, Domestic Sales & Exports Proportion.
• According to the Federation of Thai Industries (FTI), total automobiles production in Thailand stood
at 1.84 million cars in 2023, reflecting a 2.22% decline from the previous year.
• This drop was primarily attributed to a decrease in the production of pickup trucks, a key vehicle
in Thailand’s automotive industry. The decline in output was linked to banks tightening loans for
this particular group of commercial vehicles.
• In 2022, Thailand’s total auto output made the country the 11th largest producer worldwide and
1st in the ASEAN.
Source: Krungsri Research
8

10. The number of BEV models available for sale increased significantly.
31
54
Dec-22 Dec-23
BEV MODELS AVAILABLE FOR SALE
Number of models that are officially imported
+74%
EXAMPLES OF BEV MODELS INTRODUCED IN 2022-
2023
9 Source: Autolife Thailand, ABeam Consulting, Electric Vehicle Association of Thailand
New brands
Atto 3 Dolphin Seal
V 4 Maxus 9
Model 3 Model Y Aion Y Plus
i7 i5 iX2

11. BEV Share in Passenger Car Segment and Top 5 BEV Models in Thailand.
No. of new passenger car registrations 2019 – 2023
by Powertrain
Top 5 BEV registration by models in 2023
0.6
(0.09%)
692
(96%)
1.2
(0.2%)
528
(94%)
1.9
(1%)
490
(92%)
9.5
(2%)
546
(87%)
481
(74%)
2023
723
559 533
630 653
BEV
PHEV
HEV
ICE
19,214
12,777
9,410
6,712
5,881
BYD Atto 3
Neta V
BYD Dolphin
GWM Ora
Good Cat
Tesla Model Y
CBU*
CBU*
CBU*
CBU*
CBU
Thousand cars
Model
Production
source
7X BEV increase
in 1 year
2019 2020 2021 2022
76
(12%)
10
Source: EV Association Thailand, Department of Land Transport
Note: *BYD, Neta and GWM planned to build the production plant in Thailand

12. BEV Registration Comparison 2022 vs. 2023 in Thailand.
11
9,678 9,912
226 976
76,366
21,927
432 1,218
689%
121% 91%
25%
0%
100%
200%
300%
400%
500%
600%
700%
800%
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
Car Motorcycle 3-Wheelers Bus
2022 2023 Growth
Source: Electric Vehicle Association of Thailand, Department of Land Transport

13. Charging Stations Ratio in Thailand vs. Global Overall
EV (BEV + PHEV) Ratio to AC & DC Public Chargers at 15:1
And BEV ratio to DC public Chargers at 20:1 in Thailand.
• According to International Energy
Agency (IEA), the global average
in 2022 was about 10 EVs per
charger.
• Countries such as China and the
Netherlands have maintained
fewer than 10 EVs per charger
throughout past years.
• Another important aspect in
addition to the number of public
chargers is the total public
charging power capacity per EV,
given that fast chargers can serve
more EVs than slow chargers.
• Globally, the average public
charging power capacity is around
2.4 kW per EV.
• In the European Union, the ratio is
lower, with an average around
1.2 kW per EV.
12 Source: IEA, EVAT

14. Agenda.
ASEAN & Thailand Automotive Industry
Electric Vehicle Association of Thailand (EVAT)
1
2
Thai Government’s ZEV Support Schemes
3
4
13
Thailand’s ZEV Target and Opportunities

15. EV 3.0 support scheme contributed to BEV sales growth; further
government support has been announced.
2022-2023 2024-2027
DETAILS OF EV 3.0 PACKAGE
➢ Subsidy of up to
USD 4,186 per BEV
➢ Excise tax duty
reduction from 8% to 2%
➢ Import duty
reduction
Condition: Domestic manufacturing offset in 2024-2025
BYD Atto 3
Extended Range
Toyota Corolla
Cross HEV
Premium Safety
41,831
34,376 34,520
- 18%
Price before
benefits
Market retail
price
BYD Dolphin
Standard Range
Honda City
eHEV SV
26,491
20.070 22,047
- 24%
EXAMPLE OF PRICE IMPACT, Prices shown in USD
EV 3.5 PACKAGE
➢ Subsidy of up to
USD 2.790 per BEV
➢ Excise tax duty reduced
to 0-2%
➢ Import duty reduction
Condition: Domestic
manufacturing offset
in 2026-2027
Government incentives are
expected to continue to
provide strong market and
industry support in the future
14 Source: Excise Department, OEM websites, Bangkok Post, ABeam Consulting

16. 3
Source: Excise Department, Arthur D. Little analysis
Subsidy Incentive by Year
(USD)
Tax incentive by Year
2024 - 2027
Type of vehicle
Battery
size(kWh)
Conditions
Motorcycle
Pickup
Passenger
car
<55.804
USD
55k –
195k
USD
< 4,185
USD
10 – 50
> 50
10 - 50
> 50
No subsidy
2024 2025 2026 2027
• 2024–2027: 8% -> 2% Excise tax
• 2024-2025: Import duty rates
cut by a maximum of 40%
• 2024–2027: 8% -> 2% Excise tax
> 50 2,790 (Only local production)
• 2024–2025: 10% -> 0%
Excise tax
• 2026–2027: 10% -> 2%
Excise tax
> 3 279 (Only local production)
• 2024–2027: Maintained at
1% Excise tax
EV 3.5:
• EV production offset
domestically for CBUs
imported at 1:2 ratio
by 2026 and 1:3 by
2027
EV 3.0 (Past incentive)
• Within 3 years after
the starting date of
electric car
manufacture: 3 key
parts (Traction Motor,
DCU, BMS) must be
locally sourced.
The recent EV 3.5 incentive requires a stronger commitment to manufacturing
components for both CKD and EV parts due to a stricter CBU:CKD ratio.
1,395
2,790
977
2,093
698
1,395
<55,804
USD
15

17. BEVs are here to stay - big investments from Chinese OEMs are coming, poised to
reshape the competitive landscape forever.
BEV assembly plant construction groundbreaking
ceremony in March 2023 in Khan Na Yao,
expected start of production in 2024
ANNOUNCED OR ONGOING BEV INVESTMENT BY CHINESE OEMS IN THAILAND
BEV assembly plant construction groundbreaking
ceremony in March 2023 in Rayong, expected
start of production in 2024
EV battery plant construction groundbreaking
ceremony in April 2023 in Chonburi, started local
production since late 2023
Kick off production of BEVs in Rayong in
Q1 2024
In 2023, Changan officially confirmed to invest in
the BEV plant in Thailand
DEVELOPING THE LOCAL
SUPPLY CHAIN
Example: On July 11,
2023, BYD
in collaboration with
the Board of
Investment organized
the "BYD Sourcing
Day" with over 160
automotive
component suppliers
In 2023, GAC announced that it would build
a BEV plant in the Eastern Economic Corridor
16 Source: Press, ABeam Consulting

18. Agenda.
ASEAN & Thailand Automotive Industry
Electric Vehicle Association of Thailand (EVAT)
1
2
Thai Government’s ZEV Support Schemes
3
Thailand’s ZEV Target and Opportunities
4
17

19. Source : National EV Policy Committee
2025 2030 2035
Passenger cars / Pick up trucks 225,000 (30%) 440,000 (50%) 1,154,000 (100%)
Motorcycles (units) 360,000 (20%) 650,000 (40%) 1,800,000 (100%)
Buses 18,000 (20%) 33,000 (35%) 83,000 (100%)
Tuk Tuks 500 (85%) 2,200 (100%) 2,800 (100%)
Ships 130 (12%) 480 (35%) 1,800 (100%)
Rail system 620 (70%) 850 (85%) 1,170 (100%)
Passenger cars / Pick up trucks 225,000 (10%) 725,000 (30%) 1,350,000 (50%)
Motorcycles (units) 360,000 (20%) 675,000 (30%) 1,850,000 (70%)
Buses 18,000 (35%) 34,000 (50%) 84,000 (85%)
Tuk Tuks 500 (85%) 2,200 (100%) 2,800 (100%)
Ships 130 (12%) 480 (35%) 1,800 (100%)
Rail system 620 (100%) 850 (100%) 1,170 (100%)
Target Type of Vehicles
Estimated number of ZEV per Year
Usage
Production
THAILAND’S ZERO EMISSION VEHICLES (ZEV) TARGET FOR ALL TYPE OF VEHICLES.
18

20. Potential Support
▶ Budget of 24 Billion THB to
subsidize domestic
production of battery
cells for EV on a first-
come-first-serve.
▶ Subsidy 400 – 800
THB/KWH depending on
energy density and scale
of production.
▶ Subsidy provided up to 4
years.
▶ Excise tax rate reduction
for locally produced
battery from 8% to 1%.
Potential Support Program for Battery Cell Production.
Source : EVAT, National EV Policy Commitee
19

21. EV Battery Ecosystem in Thailand.
Potential of Battery Reuse & Recycle investment in the coming period.
Source : Thailand Energy Storage Technology Association (TESTA)
20

22. 21
Thank you.
Siamnat (Beer) Panassorn
Sun-up Recycling
Email : siamnat@sunup.jp
Electric Vehicle Association of Thailand (EVAT)
KX building
110/1 Krung Thonburi Road, Banglamphulang, Khlongsan,
Bangkok 10600
THAILAND
Email : contact@evat.or.th (General contact)
member@evat.or.th (Membership)
https://evat.or.th