ABeam Consulting joins Electric Vehicle Association of Thailand as a partner for the future of EV
ABeam Consulting (Thailand) Ltd. – Japanese based leading consulting firm, revealed that ABeam Consulting Ltd. – with head office in Tokyo – announced its membership to the Electric Vehicle Association of Thailand, aiming at supporting companies to launch and expand their EV businesses in Thailand and South East Asia. The membership plans to contribute ABeam's know-how of latest research and trends of the regional market that will drive Thailand’s EV sector forward along the entire supply chain from distribution to manufacturing. ABeam considers Thailand to be the best positioned market in the region for EV supply and demand going forward.
Mr. Ichiro Hara, Managing Director of ABeam Consulting (Thailand) Ltd., a subsidiary of ABeam Consulting Ltd., a global consulting company headquartered in Japan that specializes in digital transformation, disclosed that ABeam Consulting Ltd. in Thailand recently announced its membership to Electric Vehicle Association of Thailand (EVAT) in May 2021, where ABeam will join discussions with major OEMs regarding the future of the region, providing digital solutions, strategic advice and insights of the latest digital trends and customer behavior to increase the capability and efficiency of the Thai automotive sector.
ABeam has been conducting research across South East Asia, to analyze and rank ASEAN markets’ BEV (Battery Electric Vehicle) sector advancements in terms of supply and demand. Supply is ranked based on existing and planned production of vehicles and its parts, while demand is ranked based on total BEV market size, available & planned product portfolio, as well as the charging infrastructure for consumers. Thailand came ahead as a clear winner across most categories evaluated within the region, ranking highest for Supply of BEVs, and only losing out to Singapore in terms of the Demand ranking.
Battery Electric Vehicles (BEVs) are not widely used yet in Thailand, with 2,202 accumulated registered passenger cars in Thailand as of 2020, but the Year-on-Year growth has been around 90% and with automakers like MG and Great Wall Motors entering the electric vehicle market, higher numbers are expected in coming years.
The Thai government as well is determined to make Thailand the EV Hub of ASEAN, with plans of a Low Carbon Society, aiming to have 2,050,000 and 6,400,000 ZEV (Zero Emission Vehicles, including BEV and FCEV passenger cars) on the road by 2030 and 2035, which would account for 11% and 32% of the estimated total vehicle population respectively. In terms of total vehicle population, only Singapore might outpace Thailand with an estimated 30% by 2030, due to its smaller market and size.
Government plans before 2015 were to have 690 EV charging stations by 2036 to encourage EV usage; numbers which are sure to be surpassed soon, with currently already 637 EV charging stations as of March 2021, which is only second to Singapore at this moment by a few charging points (Thailand; 1,974. Singapore; 2,408).
In terms of production domestic EV manufacturers like FOMM and Takano have already an estimated annual capacity of 10,000 and 800 units respectively, with the near future allowing for a combined annual capacity of 90,000 units between SAIC (MG), Great Wall Motor and Mine Mobility, as soon as production starts. The target set is to have a production of 1,350,000 Zero Emission Vehicles by 2035, which will account for 50% of all vehicles produced by then, with only the Indonesian government setting a target to produce 600,000 units by 2030. All other ASEAN countries’ production numbers are set by manufacturers with Vietnam’s Vinfast estimated to have a production capacity of 250,000 units by 2025.
“Thailand is set up in a very strong way to lead the EV market from a demand and supply point of view very soon; offering already a wide portfolio of EV models, new strong player market entries from China, transparent goals from the Thai Government for production and already exceeding charging infrastructure targets put Thailand ahead. We are looking at other emerging markets like Vietnam and Indonesia as well, but what they all have in common is a need to rethink and restructure their overall supply chain and business models. Electric Vehicles are the future but are also going to be huge disrupters of the value chain in their respective markets. ABeam’s EVAT membership and other existing mobility alliances will allow us to provide strategic advice for stakeholders in from a digital, as well as a business point of view,” concluded Mr. Jonathan Vargas Ruiz, Head for ASEAN Automotive Strategy of ABeam Consulting (Thailand) Ltd.
