Chinese EV companies set to shine at Thailand expo

Chinese electric vehicle brands are among the most anticipated participants at the 41st Bangkok International Motor Expo, which kicks off on Friday.

With many brands set to reveal new models, analysts said Chinese automakers are expected to play a key role in lifting Thai car sales in the second half of this year.

Running until Dec 10, the expo offers 42 car brands from nine countries, 22 motorcycle brands from seven countries, and five used car firms the chance to reach an estimated 1.5 million visitors.

"A highlight of this event is the participation of new EV brands, and among the car companies are eight new EV makers from China," said Kwanchai Paphatphong, chairman of the expo's organizing committee.

Over the past two years, Thailand has become a significant player in the global EV industry, drawing in major automotive giants worldwide.

So far, many Chinese auto brands such as MG, Great Wall Motor, and BYD have expanded their business or built factories in Thailand.

At the media preview session on Thursday, BYD released its new Sealion 7 EV model in the Thai market.

The all-electric car is priced between $33,100 and $36,000, depending on the configuration.

"The recognition from the consumers of our EV is beyond the affection for cars, but a growing public trend of pursuing a sustainable life," said Liu Xueliang, general manager of BYD's auto sales division for Asia-Pacific.

"China has gained great experience in green development. We'd love to share our experiences with the world, making joint contributions to the global sustainable goal."

Liu said BYD will speed up the localization process and work closely with local partners to achieve greater mutual benefits.

Kwanchai expressed optimism about an increase in the booking volume driven by new EV brands joining the expo, which is expected to generate more than $2.1 billion in revenue for the automotive sector.

Thailand's EV market has grown steadily over the past three years. The Electric Vehicle Association of Thailand estimated that about 80,000 battery electric vehicles will be registered this year, which is 6.5 times higher than the registrations in 2021.

Official statistics showed that EV sales took a 32.9 percent market share in Thailand for the first nine months of this year.

Yeap Xin Rhu, chief financial officer and company secretary of AAPICO Hitech, a major car parts manufacturer in Thailand, said the country holds unique advantages for building itself into an EV production base in Southeast Asia.

"We have great experience cultivating suppliers. Moreover, the international EV brands, especially those Chinese brands that own the most advanced EV technology in the world, will gradually be localized in the next few years," she said.

"This will significantly boost EV production in Thailand and make it the region's major contributor to global efforts on fighting against climate change."

Kriengkrai Techakanont, an associate professor of economics at Thammasat University, said the EV industry's great potential and public demand are apparent, highlighting the surging number of charging stations over the past two years.