Chinese electric vehicle manufacturers are making a strong presence at the Bangkok International Motor Show, showcasing their latest models, including a flying car. Companies like BYD, XPeng, and Great Wall Motors are gaining traction in Thailand, challenging established market leaders such as Toyota, Isuzu, and Ford as they expand their exports globally.
Thailand, a key market in Southeast Asia with a population of over 600 million people, has prioritized the development of its electric vehicle (EV) market. Tesla entered the market in late 2022, offering competitive pricing for its Model 3 and Model Y to compete with Chinese brands like BYD.
BYD, known as Build Your Dreams, presented a diverse range of EVs at the show, including the Dolphin, a pure EV with a range of 490 kilometers on a single charge, priced at 859,999 Thai baht ($23,700). At the higher end, the Seal model promises a range of 580 kilometers per charge and costs nearly 1.6 million baht ($44,000).
In 2022, BYD led EV sales in Thailand with 30,650 units sold, followed by Neta with 12,777 units. Tesla, British brand MG, and Great Wall Motor also made their mark at the show. VinFast, a Vietnamese newcomer, aims to expand its EV sales to 50 countries by the end of the year, with plans for factories in the U.S., India, and Indonesia.
Neta announced intentions to start EV assembly in Thailand, while Great Wall Motor acquired a former General Motors plant in Rayong for its Southeast Asia expansion. Thailand accounted for nearly 60% of EV sales in Southeast Asia in 2022, surpassing Vietnam and Indonesia, despite representing only 0.5% of global EV sales.
Thailand, already a hub for auto manufacturing, has a strong market for pickups used in various services. While the country's roads are filled with a variety of vehicle brands, the transition to EVs is gaining momentum with the rapid expansion of charging stations.
XPeng, a Chinese start-up, is venturing into the Thai market with a focus on premium high-tech products. The company displayed its XPeng AeroHT Voyager X2, a flying concept car at the show, emphasizing its vision for future mobility beyond traditional wheels.
XPeng's chief marketing officer expressed confidence in the company's positioning and innovative offerings, highlighting the potential for growth in the competitive market. The flying car concept symbolizes XPeng's vision of limitless possibilities in future mobility.
