“…Instead, the three Japanese assemblers (that is, Toyota, Nissan, and Honda) invest more in Plug‐in Hybrid and Hybrid EVs, as they have actively filed EV‐related technology patent applications, accounting for 40% of total patents in EV‐related technology domains. Yet, about 84% of their EV‐related patent applications are for Plug‐in Hybrid or Hybrid EVs (Intarakumnerd & Charoenporn, 2022). Arguably, the China‐Thailand Free Trade Agreement hampers the localization of new battery electric technologies, as foreign carmakers find the price of completely built‐up Battery EVs from abroad especially from China is much cheaper that the cost of importing some knock‐down components for assembly in Thailand.…”