BMW observes growing corporate demand for EVs

BMW Group Thailand has recorded a growing preference for electric vehicles (EVs) among its corporate customers, with EV sales in this group increasing by 11.9% year-on-year in the first quarter of 2023.

Following Thailand's full reopening and economic recovery, the company sees an increasing preference for electric cars among this group of customers, including embassies, hotels and other corporate organisations.

"During the past few years, we have observed a shift of interest in business direction that is emphasised more on creating a sustainable and environmentally-friendly future," said Alexander Baraka, president and chief executive of BMW Group Thailand.

Many companies have announced campaigns to cut carbon dioxide emissions to join the government's fight against global warming, and more usage of EVs is among their plans, according to media reports.

BMW Group Thailand said earlier that it was confident about the growth of the local EV market, following the launch of an EV incentive package.

Last year, the cabinet approved a package of incentives including tax cuts and subsidies to promote EV consumption and production between 2022-2023.

The subsidies range from 70,000 baht to 150,000 baht depending on the type and model of vehicle, while there will be lower excise taxes and import duties on completely knocked down and completely built up units.

The National EV Policy Committee announced in 2021 that it wanted EVs to constitute 50% of locally made vehicles by 2030, part of an ambitious plan to turn Thailand into a regional EV hub.

BMW Group Thailand offers four premium battery EV models in every segment -- the BMW iX3, BMW iX, BMW i4 and the BMW i7 -- under its "Power of Choice" concept.

This is in alignment with BMW Group Thailand's mission to drive forward its Future of Mobility campaign, in which sustainability and environmental concerns are highlighted.

"BMW Group Thailand will continue to innovate and offer the 'power of choice' to our corporate customers," said Mr Baraka.