Thailand Electric Three-wheelers Market Predicted to Grow at 41.3% CAGR During Forecast Period

The Thailand electric three-wheelers market is primarily driven by due to the fact that non-government organizations are supporting and fueling electric vehicle adoption. The long-term vision of the government to adopt electric vehicles as a substitute to conventional road transport will create huge traction for the global electric three-wheelers industry players local players to invest in the Malaysian market to grab the immense revenue growth opportunity.

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The government in Thailand plans to run 1.2 million electric vehicles and 690 charging stations in the country by 2036. The Thailand Automotive Institute has signed a letter of intent with Japan External Trade Organization (JETRO) for talks on next-generation vehicles to develop the EV industry in Thailand.

Based on product, the market is categorized into passenger vehicles and load carriers. The Malaysian electric three-wheelers fleet size mainly constitutes of passenger vehicles; however, with the increasing awareness regarding the benefits of using electric three-wheelers as load carriers is anticipated to create the demand for load carrier electric three-wheelers in the near future in the country.

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The report offers competitive insight of the players offering electric three-wheelers, OEMs or components manufacturers for these vehicles. Product and services, recent developments and financial highlights for the players operating in the Thailand electric three-wheelers market.

Source: VynZ Research