https://www.bangkokpost.com/business/169866...sla-of-thailandElectricity billionaire building Tesla of Thailand
It’s the epitome of a closed circuit: the utility helping power one of Southeast Asia’s biggest cities is building electric cars, batteries and charging stations for the nascent market, and then supplying the juice to keep them all running.
Billionaire Somphote Ahunai envisions his Energy Absolute Plc as a titan of EVs even though there are less than 1,500 battery-powered vehicles in the country. That’s about 0.004% of registered vehicles through December.
Southeast Asia has been slow to adopt passenger EVs because of high sticker prices and a predilection for two-wheelers, but the Thai government sees them as a way to ease Bangkok’s air pollution and fortify an automotive industry generating about 12% of gross domestic product.
Energy Absolute is using subsidies and tax breaks to put 5,000 EVs on the road by next year, backed by 700-plus charging stations. It’s also planning a $3 billion factory to make lithium-ion batteries.
The trend is clear: it’s time for Thailand to stop being complacent and pursue higher technology to drive economic growth, said Somphote, the utility’s founder and chief executive officer. EV technology opens up new opportunities for success by new players.
Energy Absolute, Thailand’s second-largest electricity generating company by market capitalisation, unveiled its Mine Mobility passenger EV at this year’s Bangkok Motor Show and immediately received more than 4,500 orders. The car is priced at about 1.2 million baht cheaper than a comparable Nissan Leaf or Kia Soul EV.
Yet the car will head out on the highway just as EV showrooms start getting crowded with foreign models.....
.....Even as those domestic plans take shape, Energy Absolute plots its expansion as nearby countries —including Indonesia, Vietnam, Malaysia and the Philippines — set targets for adopting passenger EVs. Laos and Myanmar also are of interest.
"Thailand will be the leader of EV technology in this region," Mr Somphote said. "We’re first, and that should give us a headstart to develop the technology."