Bangkok (NNT/VNA) - Thailand is speeding up its planto manufacture electric vehicles (EVs) for domestic use by 2023.

Prime Minister Gen Prayut Chan-o-cha declared thegovernment’s objective to accelerate EV assembly at a seminar organised by theFederation of Thai Industries (FTI) this week. The announcement comes after thePrime Minister met with Young Liu, CEO and Chairman of Foxconn TechnologyGroup, who announced plans to start EV assembly in Thailand within a year.

During the seminar, the Prime Minister emphasised theimportance of developing the EV industry as a key factor in transitioning theThai economy to the bio-, circular, and green economic model. He urgedcooperation from all sides to help push the economy during this period ofuncertainties and conflicts.

In addition to speeding up promotions, the government willpush to produce key components such as batteries, traction motors, AC/DCconverters, portable EV chargers, electrical circuit breakers, and EV smartcharging systems in the near future.

Foxconn announced last year that it would partner with PTT Plc to establish anEV manufacturing facility in the Eastern Economic Corridor region. The factoryis expected to provide a complete operation, including vehicle design,manufacturing, and EV assembly. The company set its manufacturing target ataround 50,000 cars per year and plans to increase the number to 150,000vehicles for its next stage.

Gen Prayut added that the government will continue to reviselaws and regulations to facilitate the economic restructuring to speed upThailand’s recovery from the impact of the pandemic. He assured thatinfrastructure development, R&D, and human resources development will beprioritised in order to strengthen the Thai economy for the future./.