KOTRA Hosts 'Electric Vehicle Partnering Consultation' in ASEAN Hub Thailand
Participation of Local Companies in Electric Vehicle and Battery Sectors
The Ministry of Trade, Industry and Energy and KOTRA held the '2024 Korea-Thailand Electric Vehicle Global Partnering (GP) Consultation' on the 26th in Thailand, the largest automotive cluster in the ASEAN region and emerging electric vehicle production hub.
The consultation was attended by 20 domestic companies in the electric vehicle sector including electric vehicles, battery parts, and charging solutions, as well as 29 electric vehicle and battery companies such as ▲Arun Plus ▲Banpu Next ▲Tripetch Group (Japanese Isuzu vehicle distributor in Thailand) ▲Honda ▲Toyota Tsusho. KOTRA stated, "We expect results as we invited domestic companies in advance to discover the rapidly growing Thailand electric vehicle industry sourcing demand."
On the 27th, 13 domestic related companies and institutions including Eviol, a domestic electric vehicle technology education company, and the Future Automotive Talent Development Institute will visit the headquarters of Phanus, Thailand's number one special purpose vehicle company, to sign a memorandum of understanding (MOU) with Phanus. Phanus plans to strengthen cooperation with domestic companies to train personnel in the future mobility sector who will perform maintenance and management related to its own production of electric trucks.
Kim Yong-sung, head of KOTRA Bangkok Trade Center, said, "The Thai government will further expand the attraction of global electric vehicle production bases to achieve the goal of becoming the 'ASEAN electric vehicle production hub.' KOTRA will strengthen support so that more Korean companies can enter the Thai market at the early stage of market formation."
Thailand ranked 10th in global automobile production and 4th in commercial vehicle production last year. It is also the largest automotive cluster in ASEAN with an annual production capacity of 4 million units. Based on a stable supply chain and skilled labor force, global companies continue to invest in the electric vehicle sector.
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The Thai government has designated electric vehicles as a key industry through the 'Thailand 4.0' policy. It is intensively supporting related industries to increase the proportion of electric vehicles to 30% of total vehicle production by 2030. The total import volume in the electric vehicle sector has increased by 488% compared to last year.
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