Bangkok Post
Honda targets hybrid EV leadership in the Thai market
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Honda Automobile (Thailand) is intensifying its strategy to challenge the Chinese-dominated electric vehicle (EV) market, announcing plans to make next-generation hybrid electric vehicles (HEVs) the cornerstone of its lineup.
Key facts
- Looking ahead, Honda forecasts that HEVs will capture 52% of Thailand's car market by 2029, followed by BEVs at 33%, ICE vehicles at 13%, and other technologies at 2%.
- Honda Automobile (Thailand) is intensifying its strategy to challenge the Chinese-dominated electric vehicle (EV) market, announcing plans to make next-generation hybrid electric vehicles (HEVs) the cornerstone of its lineup.
- Globally, Honda announced plans to cut the cost of its next-generation hybrid systems by more than 30% compared with previous versions, allowing the company to produce vehicles locally at competitive prices, directly challenging Chinese
- The company also urged the Thai government to extend local content requirements, currently applied to internal combustion engine (ICE) vehicles, to BEVs, ensuring that more than 90% of components are sourced domestically.
- Honda projects sales of 40,000 units over one year, with 31,000 already sold between January and May 2026.
- The automaker reaffirmed its commitment to Thailand as a key Southeast Asian hub, with its Prachinburi plant, built with a 17-billion-baht investment following the 2011 Ayutthaya floods, serving as a central manufacturing and export base.
Summary
By 2029, the Japanese automaker expects nearly 90% of the cars it sells in Thailand to be HEVs, aiming to counter the rapid rise of Chinese battery electric vehicles (BEVs), which dominate the market.
Honda wants to promote its "e:HEV" technology, which combines an electric motor with a petrol engine that can switch between generating electricity and powering the wheels.