The Thaiger
Toyota Thailand executive urges stronger EV policy amid Indonesia bid
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A senior Toyota Motor Thailand executive has warned the Thai government that the country’s automotive competitiveness is at risk unless EV industry policy improves.
Key facts
- A senior Toyota Motor Thailand executive has warned the Thai government that the country’s automotive competitiveness is at risk unless EV industry policy improves.
- Supakorn Ratanawaraha, Senior Executive Vice President of Toyota Motor Thailand, made the comments days after Indonesia’s finance minister urged Toyota to relocate its main manufacturing operations there.
- Indonesia is offering incentives including a luxury goods sales tax exemption of up to 100% and a government-covered VAT reduction of 40%, limited to battery electric vehicles and excluding hybrids and plug-in hybrids
- In the United States, he said EVs account for around 10% of the market, with consumers increasingly favouring hybrid vehicles.
- Toyota Motor Thailand’s projected output for 2026 is 1.45 million vehicles, a figure expected to decline.
- EV sales in the first half of 2026 totalled approximately 100,000 units, with more than half of these imported rather than made in Thailand, according to figures cited by the executive.
Summary
Supakorn Ratanawaraha, Senior Executive Vice President of Toyota Motor Thailand, made the comments days after Indonesia’s finance minister urged Toyota to relocate its main manufacturing operations there.
His remarks are a policy warning aimed at Bangkok, not a statement of Toyota’s own plans. He did not say whether the company intends to stay in Thailand or leave.