According to BOI, Thailand has gained over $4.1 billion (137 billion baht) worth of investments from its electric vehicle (EV) supply chain, which encompasses 198 approved projects related to vehicle manufacturing, batteries, charging stations, and essential parts.

The investments occur as the world’s car manufacturers continue to produce more in Southeast Asia by diversifying supply chains and adding electric vehicle manufacturing capacity.

Narit Therdsteerasukdi, the Secretary-General of BOI, said that Thailand’s EV strategy caters to hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs) and not a single type of technology.

At the International Electric Vehicle Technology Conference (iEVTech) in Bangkok, Narit stated that the strategy is designed to benefit both incumbent auto brands and new entrants while developing Thailand’s automotive supply chain.

According to BOI statistics, BEV-related projects total about $1.18 billion (39.5 billion baht) and include 18 projects. The projected annual production capacity is over 370,000 units.

Investments in HEV and PHEV projects total about $1.18 billion (39.3 billion baht) across 14 projects, while battery and energy storage system manufacturing accounts for $1 billion (33.5 billion baht) through 57 projects.

Another $373 million (12.5 billion baht) has been committed to 49 projects producing components such as drive motors, battery management systems, and power control units. Charging infrastructure projects represent $292 million (9.8 billion baht) across 42 projects, supporting the rollout of more than 22,900 charging stations, including over 10,000 DC fast chargers.

Thailand's EV manufacturing sector has expanded in recent years. Mercedes-Benz started local battery electric vehicle production in 2022, while BYD, Great Wall Motor, SAIC Motor and Aion opened assembly operations in 2024. Changan Auto and EV Primus began production in 2025, followed by Hyundai Mobility and Omoda & Jaecoo in 2026.

The BOI said these manufacturing projects have created more than 16,000 jobs.

It has also organized 18 supplier matchmaking sessions, bringing together multinationals and Thailand's component suppliers. Over 800 local suppliers have attended the events, resulting in over 1,200 deals. According to the BOI, the collaboration will lead to a procurement value of approximately $1.79 billion (60 billion baht).

The country created the BOI in 1966 to encourage investments and develop its industries.