Volvo aims to increase Thai EV sales in line with 2025 target

Volvo aims to increase Thai EV sales in line with 2025 target

Volvo Cars (Thailand) Co plans to increase electric vehicle (EV) sales in Thailand as part of Sweden-based Volvo Car Corporation's goal to see 50% of cars sold be EVs by 2025.

The company wants 100% of sales to be EVs by 2030.

Volvo Thailand aims to catch the trend towards electric mobility which will be the future of the global car industry.

"The trend in the automotive industry is moving towards clean and environmentally friendly technology, so the company aims to develop more EVs to serve the market," said Chris Wailes, managing director of Volvo Thailand.

During the pandemic, the company's accumulated sales of plug-in hybrid EVs stood at 2,000 units.

Volvo Thailand expects its sales in 2021 will increase by 30% year-on-year due to the company's focus on the launch of new EVs and demand growth in the market.

"From January to June this year, the company's sales already increased by 20% as its target customers still had purchasing power," said Mr Wailes, adding cars were usually sold to organisations.

However, in 2020, Volvo Thailand recorded total sales of 1,824 units, a decrease of 13% year-on-year because of the economic slowdown caused by the pandemic.

Mr Wailes said the global automotive industry and the Thai car industry bore the brunt of the Covid-19 impact.

"Domestic car sales tend to slow down. It is difficult to exactly predict the volume of car sales in the country this year," he said.

However, the company has a positive view of the EV car segment, believing it will continue to grow because prospective buyers who can afford to buy cars with new technology want to buy new models.

The government has also launched a policy to support the EV industry.

The company expects EVs will be further developed to attract more Thai consumers.

"To increase demand for EVs in Thailand, the government should also launch measures to support both car buyers and car makers," said Mr Wailes.

Tax incentives are among effective tools to strengthen the EV industry, he said.

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