Rising instability in the Middle East has driven up fuel prices in Southeast Asia, sparking a growing interest in electric vehicles (EVs) in Thailand, which is heavily reliant on oil imports, and faces tightening supplies amid the ongoing conflict.
The shift is evident at the country's largest auto show, the Bangkok International Motor Show, where Chinese EV brands dominate the floor with a wide range of competitively priced models.
"I think this will be a pain-point for customers in their decision-making process. We expect growth to be above average," said Suroj Sangsnit, Executive Vice President of SAIC Motor-CP, a partnership between Chinese car manufacturer SAIC and Thai conglomerate Charoen Pokphand (CP) Group that targets ASEAN automotive markets.
Organizers say the event is expected to draw more than one million visitors, with dozens of brands showcasing EVs and alternative-energy vehicles, underscoring both industry momentum and changing consumer preferences.
"The trend of EVs is already popular and in demand among consumers. However, with the current situation, I think it will be a significant driving force that makes people want to switch to EVs even more," said Peeraphong Eamlumnow, Chief Executive Officer at Grand Prix International PCL, which is hosting the auto show.
Consumers at the show echoed the sentiment.
"At first, I was not interested, but I recently became concerned because it is difficult to find places to refuel, and fuel is expensive. So, I changed my mind and started looking at electric cars instead. I have decided to reserve one," said Suchanya Petchruecha, a visitor to the auto show.
"It would be better to switch to driving an EV. It is becoming more common, and as you can see, since the war, oil prices are high so EVs will help a lot," said another visitor named Kriengkrai Krisanakamol.
Not limited to Thailand, soaring oil prices are accelerating consumers' shift toward new energy vehicles worldwide.
According to U.S. auto platform CarEdge, searches for EVs jumped 20 percent over the past three weeks, while Germany's MeinAuto saw a 40 percent increase in interest in EVs. Similar trends are emerging in the UK and Southeast Asian markets.