Thailand aims to lead Southeast Asia’s electric vehicle manufacturing, targeting a $6.5 billion real estate market by 2030, driven by ambitious policies and significant foreign investments.
Thailand is set to become Southeast Asia’s leading electric vehicle (EV) manufacturing hub by 2030, with an anticipated $6.5 billion commercial real estate market according to JLL. This growth is driven by ambitious government policies like the 30@30 initiative, aiming for 30% of vehicle production to be electric, alongside significant foreign investments, expected to reshape the real estate landscape.
To meet its targets under the 30@30 policy, the country will require substantial new manufacturing infrastructure, particularly for battery production, which will demand over 34 GWh capacity. As of late 2023, Thailand had approximately 167,000 EVs, nearing its 2030 goal of 440,000.
Investment in research and development is crucial for maintaining a competitive edge in the EV sector. With government-backed subsidies enticing automakers and specialized real estate needed for high-tech manufacturing, Thailand is building a robust infrastructure to support not only EV production but also connected industries, ensuring long-term sustainability in its industrial economy.
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