Narit Therdsteerasukdi, the secretary-general of the Board of Investment, led a delegation to visit seven battery manufacturers in China and reported that all expressed interest in Thailand's promotional privileges for EV power cell and energy storage system investment.

The text discusses the benefits offered by the Board of Investment (BoI) in Thailand for businesses, particularly those in the circular energy sector.

These benefits include corporate tax and import tariff exemptions on machinery and raw materials, financial support, and subsidies for human resource development.

Narit, the BoI chief, emphasized the need for energy storage in Thailand due to the growth of the circular energy sector and highlighted the country's potential for developing energy storage systems.

He also mentioned the success of attracting foreign investment in electric vehicle (EV) production but noted that the industry is not yet fully integrated without power cells, a vital component for EVs. A person is optimistic that Thailand will establish significant battery cell factories within the next two years, contributing to the completion of the EV supply chain in the country.

Currently, China dominates the global battery cell market, accounting for over 60% of the share, with CATL holding a 37% share.