Since Thailand is neither a supplier of raw materials for the production of EV batteries nor the world's largest semiconductor manufacturer, Thai manufacturers need a major upgrade to level up their long-term competitiveness by expanding their business into “raw material procurement” (Backward Integration) through joint investment or partnering with mineral production companies. Alternatively, they may conduct research and develop cathode/anode/electrolyte solutions to reduce the import of raw materials which will help increase the business’s competitive ability and reduce the shortage of raw materials for the production of EV batteries in the future.
