Thailand bets on EVs to draw in the big bucks

Going electric: An EV is displayed at the Bangkok International Motor show. Chinese EV makers are a top target for Thai companies. — Reuters

THAILAND, renowned as the ‘Detroit of Asia’ for its production of internal combustion engine cars, wants to break into the top tier of electric vehicle (EV) makers as part of a goal to attract one trillion baht (US$28bil) of investments in four years.

To that end, the South-East Asian nation has set up a “special operation” centre to catch what its investment board head calls the “big fish” of the EV industry and other strategic sectors.