Japanese automaker Isuzu is set to invest approximately 240 billion Baht ($6.6 billion) by 2030 in Thailand's electric vehicle (EV) sector, as confirmed by a Thai government representative today. Isuzu's strategy includes the production of its D-MAX electric pickup truck in Thailand for export starting in 2025, with plans to introduce the model initially in European markets like Norway. The company intends to expand distribution to the UK, Australia, Thailand, and other countries based on market demands and the development of EV charging infrastructure.
Specific details regarding Isuzu's investment strategy were not disclosed at this time. Thai Prime Minister Srettha Thavisin previously stated the country's ambition to attract 1 trillion Baht as it aims to position itself as a future mobility hub. Thailand is actively promoting its EV industry and exploring technologies like "hydrogen engines," according to Thavisin.In line with its goals, Thailand's National Electric Vehicle Policy Board recently approved a plan to provide tax incentives for commercial electric truck and bus purchases. The initiative also includes cash grants for EV battery cell manufacturers.
Thailand has committed to achieving 30% of zero-emission vehicles in the country's total automobile production by 2030 through its 30@30 policy. Notably, battery EV registrations surged nearly fivefold from the previous year to reach around 100,000 units in 2023.
