Chinese electric vehicle manufacturers raise prices in Thailand

Chinese electric vehicle manufacturers have begun raising prices in Thailand after the government ended its electric vehicle subsidy program at the end of last year.

This move marks a turning point in Southeast Asia's largest electric vehicle market. At BYD dealerships, the number of orders is said to have decreased significantly because prices are no longer as "affordable" as before. Not only BYD, but brands like SAIC Motor and Chery Automobile have also adjusted their pricing. The end of the promotional offers has ushered in a new phase for the market, where buyers must consider their options more carefully before purchasing a vehicle. In this context, some hybrid and electric vehicle models from Japanese manufacturers such as Toyota Motor and Honda Motor are becoming more competitive in terms of price. This year is seen as a real test for the demand for electric vehicles in Thailand.

In addition, the Federation of Thai Industries (FTI) announced on February 24th that Thailand's automobile production reached 118,386 units in January 2026, a 10.53% increase year-on-year, driven by domestic sales and electric vehicle (EV) production. This growth follows an 8.56% increase in December 2025. During the same period, domestic sales increased by 53.77% year-on-year.

Thailand is Southeast Asia's largest automotive manufacturing hub and serves as an export base for several of the world's leading automakers, including Toyota and Honda. Chinese electric vehicle manufacturers such as BYD (Build Your Dreams) and GWM (Great Wall Motors) have established factories in Thailand for both domestic sales and exports.

FTI forecasts that car production will increase by 3% to 1.5 million units this year, after a 0.9% decline to 1.455 million units last year.

Source: VTV