Growth of Thailand’s EV vehicle industry to power commercial real estate: JLL

Thailand is well positioned to become Southeast Asia’s leading market for electric-vehicle (EV) manufacturing and innovation, which will have implications for the country’s commercial real estate industry. According to JLL, the potential for sustained growth in Thailand’s EV industry, backed by government policies and foreign investment, will create at addressable real estate market of least $6.5 billion by 2030, to support the country’s emergence as a regional manufacturing and innovation leader in the space.

JLL’s forecast for the size of the real estate market required to support Thailand’s EV industry is based on several key developments in this space. The implementation of the Government of Thailand’s ambitious 30@30 policy, which aims for 30 percent of all vehicles made in Thailand to be electric by 2030, will frame the real estate requirements of the sector. The policy initiative includes substantial subsidies, tax cuts, and a EV 3.5 incentive package cov