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Thailand Plans Formula E Debut, French Investments Boost Sectors

Thailand is gearing up to host the esteemed Formula E electric car racing championship series next year, announced by Prime Minister Srettha Thavisin on Saturday via his official channels. The premier disclosed his conversation with a Formula E executive, expressing the company’s interest in organizing an electric vehicle racing event in Thailand. This move aligns with Thailand’s shift towards electric vehicle adoption, evidenced by electric vehicle orders constituting 40% of all car orders since last year. The Prime Minister emphasized the benefits of hosting such an event, citing economic stimulation, infrastructure development, and adherence to carbon emission reduction policies as key motivations.

Formula E, formally known as the ABB FIA Formula E World Championship, debuted in Beijing in 2014 and has since earned recognition as an FIA world championship. The prospect of bringing this prestigious racing competition to Thailand marks a significant step towards promoting electric vehicle culture and reinforcing the country’s commitment to sustainability. Notably, Formula E officials are slated to visit Chiang Mai next week to assess the feasibility of hosting the event, with intentions to leverage it as a catalyst for enhancing Thailand’s regional tourism standing.

During discussions surrounding this initiative, Paetongtarn Shinawatra, leader of the ruling Pheu Thai Party and vice-chair of the National Soft Power Strategy Committee, was also present. Additionally, the Prime Minister disclosed fruitful interactions with French business leaders during his visit to Paris, highlighting interest from twelve French firms to invest and expand across various sectors in Thailand.

Among these firms, Accor, a prominent French multinational in the hospitality sector, expressed enthusiasm for collaboration on tourism initiatives and investment in Thai financial instruments. Plans for expanding hotel infrastructure, particularly in the southern border provinces, were discussed as part of enhancing tourism prospects. Similarly, engagements with Michelin, the renowned French tire manufacturer with significant operations in Thailand, focused on expanding production capacity and transitioning towards clean energy sources. Michelin’s recognition of Thailand’s culinary potential and willingness to promote it for tourism purposes further underscores the strategic partnerships envisioned by the Prime Minister.

As Thailand prepares to welcome Formula E and strengthen ties with international partners, these developments signal a concerted effort towards sustainable economic growth and sectoral diversification.

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april, 2024