Deputy Government Spokesperson Radklao Inthawong Suwankiri stated that Thailand has discovered rich deposits of lithium and sodium, which are major raw materials used in producing batteries for electric vehicles (EVs).
The Deputy Government Spokesperson said that, previously the Ministry of Industry uncovered two major lithium deposits, Ruangkiat and Bang E-thum, in the southern province of Phang-nga. Recently, large sodium deposits have been found in the northeastern region. Both mineral resources are crucial for producing 100% EV batteries.
Statistics from the Department of Primary Industries and Mines show that 14.8 million metric tonnes of lithium, with 0.45% lithium oxide, have been discovered, making Thailand the world’s third-largest source of lithium, after Bolivia and Argentina.
Mrs. Radklao said that the discovery of lithium and sodium deposits was good news, as it would be beneficial to the Thai EV industry. This will also help enhance Thailand’s competitiveness in the manufacturing of EVs and batteries, as well as attracting both Thai and foreign investors to establish auto factories in the country.
Moreover, she said, the discovery of both minerals would reduce Thailand’s dependence on imports and move the country toward becoming an EV production hub and a production base for EV batteries in this region. Global demand for lithium is estimated to double by 2025. The demand is likely to increase to more than two million tons in 2030.
The Thai government has been developing an ecosystem of the EV market that will be favorable for investment in the EV industry. Domestic EV market has grown markedly, and Thailand has become the largest EV market in Southeast Asia.
The Government has also given a major boost to the production and use of EVs, which will reduce pollution, as well. EV manufacturers from various parts of the world have been interested in investing in Thailand, and incentives have been offered by the Thailand Board of Investment. (PRD)
