BANGKOK (Reuters) -Thailand hopes to start producing lithium from a mine in its southwest in about two years, boosting its ambitions to become a regional electric vehicle (EV) production hub, according to government and company officials involved in the project. The silvery-white element is a key metal for EV batteries and establishing lithium mines would put Thailand in a unique position compared to other major producers because it is also developing an EV production industry, including $1.44 b
In a significant step towards fortifying economic partnerships, the Thailand Board of Investment (BOI) has inked a Memorandum of Understanding (MOU) with Japan's Wakayama Prefecture, focusing on increasing investment opportunities, extending support to Small and Medium-sized Enterprises (SMEs), and fostering the exchange of policy information between Thailand and Wakayama prefecture.
Thailand R&D EV: Thailand aims to convert about 30% of its annual production of 2.5 million vehicles into EVs by 2030 and is preparing incentives to encourage more investment and conversion into EV manufacturing.
Manufacturers of electric vehicles (EV) from South Korea have expressed interest in investing in Thailand for the manufacturing of small EVs, motorcycle EVs, and EVs for agriculture, according to the Thailand Board of Investment (BOI).