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Insight into the current landscape of electric vehicle charging in Thailand

About a year ago, the Electric Vehicle Association of Thailand (EVAT) reported that, by September 2021, Thailand would have 774 DC fast chargers. As of the 20th of September, 2022, that number has increased to 869.

Wattanapong Kurowat, director of Thailand’s Energy Policy and Planning Office (EPPO), was quoted in The Nation in February 2022 saying that the National Electric Vehicle Policy Committee’s 30@30 policy aims to instal as many as 567 EV charging stations with 13,251 fast chargers across the country by 2030. Of these, 505 should be positioned in major cities with 8,227 chargers, and 62 should be placed along major highways with 5,024 charges.

According to a report in the Bangkok Post, the Thai government is planning to provide lenient financing terms for small and medium-sized businesses (SMEs) and startups that wish to instal charging stations.

At the meetings of the National EV Policy Committee, which is headed by Supattanapong Punmeechaow, the government has discussed providing small-scale EV charging stations with aid, such as lenient loans (loans that are very good for the borrower).

Although the Board of Investment (BOI) has already granted incentives for small investors that engage in small-scale charging stations, “the government regards the soft loans as necessary to motivate SMEs and startups to invest in charging stations,” said Supattanapong.

On April 7 this year, the BOI authorised increased incentives and defined requirements for investments in EV charging stations, which led in three years of tax advantages being offered to operators of smaller charging stations. This is in addition to the existing 5-year corporate income tax exemption for investments in stations with at least 40 charges, of which 25% can generate DC (direct current).

In the future, investors will only need to follow the relevant safety regulations and submit a plan to implement a “EV Smart Charging System” or to connect to a “EV Charging Network Operator Platform,” both of which will serve as a central mechanism to develop efficient management for operators and EV users.

According to Wattanapong Kurowat, the payback period for an electric vehicle charging company would be affected by a number of factors, including the cost of land rehabilitation, the cost of charger installation, and the cost of power.

To ensure the success of the EV-charging company and to entice investors, “Eppo has volunteered to pay for the cost of chargers for the first two years,” he explained.

PTT Plc, a Thai national oil and gas giant, is looking to rebrand itself as a leading producer for the emerging EV market.

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