EV Charging Growth: Sharge Management Expects 7% Revenue Increase
Despite a slowdown in electric vehicle (EV) registrations, Sharge Management, a leader in EV charging solutions, projects 7% revenue growth in 2025, reaching 750 million baht. This growth comes amid sluggish domestic EV sales due to financing and insurance challenges.
Challenges in EV Charging and Market Expansion
1. EV Charging Faces Obstacles Due to Declining Registrations
- In 2024, battery EV registrations dropped by 8% to 70,137 vehicles, compared to a 684% surge in 2023.
- Loan access difficulties and complex EV insurance procedures have hindered new EV purchases.
- Financial institutions have tightened lending policies, citing concerns over non-performing loans and household debt.
2. EV-Charging in Logistics and Delivery Services
- Thailand has 1.2 million logistics vehicles, but only 0.05% (673 vehicles) are EVs.
- Sharge recently collaborated with Lalamove Thailand to provide EV-charging infrastructure for delivery drivers.
Strategies to Strengthen EV Charging Adoption
1. Expanding EV Charging Partnerships
- Sharge aims to grow its EV-charging network by partnering with EV leasing firms and businesses transitioning to electric mobility.
- The company is also working closely with EV assemblers to ensure wider charging station availability.
2. EV Charging as a Sustainable and Cost-Effective Solution
- Businesses are shifting towards EV adoption to align with global carbon reduction policies.
- The transport sector, a major contributor to carbon emissions, is expected to benefit from increased EV charging accessibility.
- Drivers can cut fuel costs by 60-70% when switching from gasoline-powered vehicles to EVs.
The Future of EV-Charging in Thailand
Sharge Management has postponed its stock market listing due to slow EV sales, but the company remains confident in future EV-charging market growth. With increasing climate change awareness, Thailand’s EV-charging infrastructure is expected to expand as demand for electric mobility rises.
Conclusion
The EV charging sector in Thailand continues to grow despite challenges in the EV market. With strategic partnerships, sustainability initiatives, and cost savings, EV-charging infrastructure will play a critical role in Thailand’s transition to electric mobility.
Stay informed about the latest trends in Thailand’s EV-charging industry and its role in the future of sustainable transportation!
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