东盟泰国与印尼的电动汽车：领先且不断崛起的电动汽车生产中心

EVs in ASEAN Thailand vs Indonesia:Leading and Rising EV Production Hub Introduction ASEAN EV landscape and development5 Key success factors for EV manufacturing hub11 Pinpointing opportunities in the EV industry ofThailand and Indonesia15 Krungsri Research view20 21 References Unlessexplicitlystatedotherwise,thispublicationandallmaterialthereinisunder the copyright ofKrungsriResearch. As such, the reuse, reproduction, oralteration of this text or any part thereof is absolutely prohibited without priorwrittenconsent.Thisreportdrawsonawiderangeofwell-establishedandtrustworthysources,butKrungsriResearchcanmakenoguaranteeoftheabsolute veracity of the material cited. Moreover,KrungsriResearch will not beheld responsible for any losses that may occur either directly or indirectly fromany use towhich this reportorthe datacontained therein maybe put.Theinformation,opinions,andjudgementsexpressedinthisreportarethoseofKrungsriResearch, but this publication does not necessarily reflect the opinionsof Bank ofAyudhyaPublic Company Limited or of any other companies withinthe same commercial group. This report is an accurate reflection of the thinkingand opinions ofKrungsriResearch as of the day of publication, but we reservethe right to change those opinions without prior notice. For research subscription, contactkrungsri.research@krungsri.com Executive Summary This paper examines the potential of Thailand and Indonesia to emerge as electric vehicle (EV) productionhubs in ASEAN. Each country presents different strengths and opportunities across the EV supply chainand EV segment. Thailand leads in midstream and downstream activities, with notable opportunities in theproduction of four-wheelers targeting middle-and high-income segments. Meanwhile, Indonesia'sadvantage lies in upstream activities, and its large population heavily relies on two-wheelers, positioning itwell for the lower-to-middle-income EV segment. Despite their unique strengths, both countries can playpivotal roles in global EV manufacturing. Collaborating under regional trade agreements can enhance theircompetitiveness by facilitating part flow, promoting production synergies, and strengthening the regionalEV ecosystem. WanichaDirekudomsak Senior Economistwanicha.direkudomsak@krungsri.com+6622964734 Disclaimer Unlessexplicitlystatedotherwise,thispublicationandallmaterialthereinisunder the copyright ofKrungsriResearch. As such, the reuse, reproduction, oralteration of this text or any part thereof is absolutely prohibited without priorwrittenconsent.Thisreportdrawsonawiderangeofwell-establishedandtrustworthysources,butKrungsriResearchcanmakenoguaranteeoftheabsolute veracity of the material cited. Moreover,KrungsriResearch will not beheld responsible for any losses that may occur either directly or indirectly fromany use towhich this reportorthe datacontained therein maybe put.Theinformation,opinions,andjudgementsexpressedinthisreportarethoseofKrungsriResearch, but this publication does not necessarily reflect the opinionsof Bank ofAyudhyaPublic Company Limited or of any other companies withinthe same commercial group. This report is an accurate reflection of the thinkingand opinions ofKrungsriResearch as of the day of publication, but we reservethe right to change those opinions without prior notice. Introduction Electric vehicles (EVs) are gaining momentum globally amid megatrends of environmental and climate changeawareness. While China currently dominates the Asian EV arena, the ASEAN EV market is anticipated to growrapidly going forward. Currently, ASEAN countries are aiming to become major EV production hubs. They areleveraging their own strengths to seize opportunities across regional supply chains. This, coupled with the trendof supply chain relocation favoring the region, makes them attractive to international investment. Within EVs, there exist various subtypes, namely hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles(PHEVs), and battery electric vehicles (BEVs). This paper will mainly focus on BEVs, which the governmentprioritizes as a key solution for achieving net-zero emission targets, a strategic investment opportunity, and ashift in consumer preferences. The objectives of this paper are to:i) shed light on the EV landscape in ASEAN and its development; ii) identifykey factors for success in becoming an EV production hub, focusing on key countries; iii) explore opportunitiesacross the EV supply chain, which can be broadly categorized into four segments: raw materials and batteryproduction, vehicle manufacturing, charging infrastructure, and retail and aftermarket. Opportunities acrossdifferent EV segments, including two-wheelers and four-wheelers, will also be discussed; iv) discuss thechallenges faced in becoming an EV manufacturing hub. The study will specifically focus on Thailand andIndonesia as potential EV hubs within ASEAN. ASEAN EV landscape and development The transition from traditional internal