Thailand Becomes Southeast Asia's Largest EV Market, Surpassing Indonesia
Thailand Takes the EV Lead
Thailand has emerged as Southeast Asia's largest electric vehicle market, with 125,000 battery electric vehicle registrations in the first nine months of 2025 — surpassing Indonesia's 78,000 for the same period. Chinese brands BYD, MG (SAIC), and Great Wall Motors (through its Ora and Haval brands) collectively account for 72% of Thai EV sales.
The Thai government's EV 3.5 subsidy program, which provides up to 150,000 baht ($4,200) per vehicle, has been a major driver. Board of Investment secretary-general Nuttapon Nimmanphatcharin said the subsidies "have transformed Thailand from an observer to a leader in ASEAN's electric transition."
Chinese Brands Dominate
BYD's Atto 3 and Dolphin are the two best-selling EVs in Thailand. BYD has also opened a factory in Rayong province with a capacity of 150,000 vehicles per year, making Thailand its largest manufacturing base outside China. MG's MG4 and the affordable Wuling Air EV fill the budget end of the market.
Japanese automakers, which have dominated the Thai automotive market for decades, have been slow to respond. Toyota, Honda, and Mitsubishi collectively hold less than 10% of the Thai EV market. Toyota's first locally produced EV for Thailand, based on the bZ4X, is not expected until 2027.
Infrastructure Buildout
Thailand now has over 8,500 public EV charging stations, up from 3,200 at the start of 2024. The state-owned Provincial Electricity Authority has committed to installing 10,000 additional chargers by 2027. Private operators including EA Anywhere (a subsidiary of Energy Absolute) and PTT's branch company are expanding rapidly along major highways.
Range anxiety remains a concern for buyers outside Bangkok. Industry surveys show that 65% of Thai EV owners charge exclusively at home or office, suggesting the public charging network is not yet meeting user expectations for long-distance travel.
Regional Competition
Indonesia is fighting to reclaim EV leadership. The country has implemented a nickel export ban to attract battery manufacturers and is courting Hyundai, BYD, and CATL to build integrated EV and battery plants. Vietnam's VinFast is also investing heavily in domestic sales and exports.
Mark Grueber, a senior consultant at Oliver Wyman, said Thailand's advantage "is its established automotive manufacturing ecosystem. The country builds 1.8 million cars a year — converting that infrastructure to EV production is more efficient than building from scratch."
