Energy Absolute, a Thailand renewable energy company pulls off electric vehicle dreams

Energy Absolute, a Thailand renewable energy company pulls off electric vehicle dreams

Summary:

  • Thailand wants 1 million electric vehicles on the road by 2025, with the goal of increasing to 15 million a decade later.
  • In 2019, Energy Absolute expanded into the commercial EV market, although the pandemic has hampered the company’s efforts.
  • In the next years, the biodiesel producer and renewable energy provider wants to build 1,000 charging stations across the country.

Energy Absolute trying to pull off

Many individuals believe that in the future, electric vehicles will be commonplace in a world powered by renewable energy. However, few EV companies began as renewable energy businesses.

Bangkok-based Energy Absolute is one startup attempting to achieve this goal. In 2019, the biodiesel and renewable energy company expanded into the commercial EV market.

Thailand established a goal of 1 million electric vehicles on its highways by 2025, with the hope of increasing that number to 15 million a decade later. This would encompass not only personal vehicles but also business vehicles such as delivery vans, lorries, and buses.

According to Ahunai, the government’s initiatives to promote electric vehicle use in Thailand aided him in starting the project. He’s now pleading with the government to “open up the market and develop a favorable policy for the EV market,” according to him.

The epidemic, on the other hand, has hampered the company’s move into electric vehicles. As tourism declined, a local taxi firm cancelled an order for 3,500 five-seater hatchbacks. Ahunai quickly shifted its focus to commercial cars and battery storage.

Focus by Manufacturing Companies

“Many manufacturers are focusing on the passenger automobile. “Not many people are focusing on commercial vehicles yet since they can’t overcome charging speed and battery durability,” Ahunai explained. In the next three years, Ahunai aims to add 1,000 charging stations across the country.

“We’ve deployed around 500 charging stations in the country, mainly in Bangkok and the surrounding regions,” Ahunai said. He also stated that the corporation controls over 80% of the charging station market in Thailand.

His emphasis on commercial vehicles aligns with Thailand’s goal of putting 70,000 commercial electric vehicles on the road each year. “If we can secure [the commercial electric vehicle] category, we will be able to expand into other categories,” such as passenger automobiles, according to Ahunai.

Thailand has produced vehicles for Japanese, American, and German automakers. Despite its auto-making expertise, however, the country lacks its own internationally known vehicle brand. Electric vehicles, according to Ahunai, have the potential to change that.

“We feel that by combining [our] technology with Thailand’s [auto-making] infrastructure, we can use it as a springboard into the worldwide market,” Ahunai explained. “At the very least, we can enter the ASEAN market, which has a population of about 600 million people, which is a terrific start.”

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