Japan's Mitsubishi Motors Thailand remains on the sidelines of electric vehicle (EV) manufacturing capabilities, even as its competitors have joined the government's EV scheme.
On the global market, the Tokyo-based parent sells three EV models: a plug-in hybrid electric vehicle (PHEV), the Outlander sport utility vehicle, and two battery electric vehicles (BEVs), the i-MiEV and Minicab-MiEV.
"We are still studying whether to apply for the PHEV and BEV government schemes," said president and chief executive Morikazu Chokki. "There are 11 more months for us to take a position."
Applications for PHEV and BEV privileges from the Board of Investment (BoI) are due by Dec 28, 2018.
Mitsubishi was granted BoI privileges for the government's eco-car scheme, a project that is ongoing.
According to the BoI, Mitsubishi applied for the first phase of eco-cars in 2007 and was granted privileges for the 4.7-billion-baht project in April 2008, making 107,000 cars a year at the plant in Laem Chabang, Chon Buri.
In October 2014, Mitsubishi was granted an expansion to 220,000 eco-cars per year with an investment of 7.7 billion baht, and its second-phase project was approved on the same day at 4.9 billion baht, bringing production to 233,000 eco-cars annually.
Mr Chokki said Mitsubishi will continue in both eco-car phases to meet all requirements from the government, especially the 100,000-car output per year.
Mitsubishi launched two eco-car models locally, Mirage and Attrage, under the first phase, but it upgraded its eco-car specifications in early 2016 to meet the second phase's requirements, which are tighter in terms of reducing CO2 emissions from 120 to 100 grammes per kilometre and increasing fuel efficiency from 20km to 23.3km per litre.
Mr Chokki said Mitsubishi will continue with the investment under the second phase, which Mitsubishi is due to fulfil by the end of 2019.
Mr Chokki said that while the government's scheme creates the option to merge output between eco-cars and EVs, Mitsubishi thinks it's of little benefit to carmakers because the two vehicles target different buyers.
"Eco-car customers prefer the vehicles priced at 500,000-600,000 baht, but prices of PHEVs and BEVs are much more expensive, falling into the scope of high-end buyers," he said. "For the PHEVs, Mitsubishi has to consider the application carefully, because a luxury car segment will enjoy more in terms of excise taxes, which will be cut from 10% to 2%."
For Mitsubishi's sales performance in 2018, Mr Chokki expects to maintain a market share of more than 8% in the country or 72,000 cars sold.
He said Mitsubishi will grow in line with Thailand's car market, projected at 900,000 cars, up 3.3%.
Mitsubishi plans to launch two new models and seven refreshed models throughout 2018.
Last year it reported sales volume of 69,737 cars, up 26%. Mitsubishi ranked fourth with a 8% share of the market after Toyota, Isuzu and Honda.
Mitsubishi's operations in Chon Buri made 400,000 units in 2017, up 3%.