The EV hype is alive and well in Thailand, making 2023 a likely year for Electric Vehicle demand, from vehicles to charging stations and applications. As is with emerging trends, a slew of new players will come into the market, flooding consumers with choices and options.
Then, one or two key dominant players will emerge. Whilst this may not be the case for cars, from the likes of Tesla to BYD, it will be the likely case for EV charging stations. Whoever can dominate the most locations with efficiency, will fare well in the landscape.
You may recognize Tao Bin vending machines located around condos, shopping malls, and parking lots. The now iconic turtle logos stamped on white vending machines became hyped last year, producing coffee, iced chocolate drinks, and more with a few taps and easy online payment.
Now, Forth Smart-the company behind the vending machine and Boon Term money top-up machines will soon be branching out into EV charging stations.
The technology will be slightly different of course, but the straightforward concept of plugging in, pressing a few buttons to activate the service, and paying with a QR code or E-Wallet is the same.
According to reports, no application download is needed, and users can simply plug in their Vs and press the touch screen to get going-leveraging the company's know-how from Boon Term top-ups.
As the EV ecosystem grows, its growth potential will also be contingent on how much government support is given to build infrastructure, as well as commercial adoption of the cars themselves. Insufficient charging stations, unawareness about servicing and maintenance, and mileage remain barriers to widespread EV adoption, but this industry is likely playing the long game.
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