Evaluation of total cost of ownership for electric songthaews in Chiang Mai

Abstract

This study evaluates the 10-year total cost of ownership (TCO) of Chiang Mai’s public Songthaew vehicles, comparing diesel internal combustion engine vehicles (DICEVs) with both converted and factory-produced battery electric vehicles (BEVs) at an annual mileage of 50,000 km. Real-world driving test data inform the analysis, which includes purchase price, financing, energy, maintenance, insurance, depreciation, and battery replacement. In Group 1 (Isuzu TFR, legacy vehicles), BEV conversions exhibited a lower TCO than diesel equivalents (1.46 vs 1.68 million Baht), primarily due to reduced energy costs, despite significant battery replacement expenses. In Group 2 (Toyota Hilux Revo vs King Long Dracon), factory BEVs showed a higher TCO (2.20 vs 1.94 million Baht), driven by higher purchase prices, depreciation, and battery costs. Sensitivity analysis indicates that a 100% subsidy for BEV conversions delivers immediate cost competitiveness, while the EV3.5 policy’s 100,000 Baht subsidy improves initial affordability but does not offset long-term battery costs. A 50% battery price reduction substantially improves BEV TCO stability and long-term competitiveness. These findings underscore those targeted subsidies for conversions, enhanced purchase incentives for new BEVs, and battery cost reduction strategies are critical for accelerating the electrification of high-usage public transport fleets in Thailand.

Keywords

• Clean energy
• Decarbonization
• Electrification
• Public transport
• Total cost of ownership

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