On December 26, 2025, the board of the Bangkok Mass Transit Authority (BMTA) approved the final results of the bidding process for the BMTA Air-Conditioned Electric Bus (EV) Leasing Project for 1,520 buses. The winner of this bid was Nakhonchaiair Co., Ltd., which offered the lowest bid of around THB 14.91 billion. After negotiations, the price was reduced by THB 8 million to approximately THB 14.90 billion.
The next step will be to submit the bidding results to the Ministry of Transport to consider proposing them to the Cabinet for approval. If the Cabinet gives approval, Nakhonchaiair will then be invited to sign the contract. The company will be required to submit detailed plans, including brand, size, and color of buses, by early January 2026.
Initially, the first batch of 500 EV will be delivered within 300 days, or roughly 10 months after the contract is signed, by March 2027. Full delivery of all 1,520 buses is expected within 360 days, or around May 2027. These buses will be introduced to replace the retiring non-air-conditioned red-and-cream buses to help reduce pollution, in line with the government’s clean energy policy.
BMTA will begin gradually receiving the buses in 2027, with the contract requiring the contractor to deliver all 1,520 EV buses and 434 charging stations at designated BMTA locations within 360 days. The lease term will last for 7 years.
Mr. Noppadol Nimpatcharawut, Chief Executive Officer of Nakhonchaiair, stated that the company has strong confidence in NEX Point PCL (SET: NEX) as a strategic partner, especially regarding manufacturing, assembly, and electric vehicle technology, under Energy Absolute PCL (SET: EA). Nakhonchaiair has assigned NEX as the sole manufacturer and assembler of electric buses for this project.
NEX and EA Group have the technological and infrastructure readiness for EVs, from the production of electric buses, energy management systems, to electric charging stations, all in an integrated manner. This readiness instills confidence that the project will be efficiently run, supporting effective management, maintenance, and sustainable service continuity in the long term.
Mr. Vasu Klomkliang, Chief Financial Officer of EA and Chairman of NEX, informed “Kaohoon” that the company is ready to deliver the buses within 300 days, and will increase hiring accordingly after having previously scaled down production. This will support the manufacturing of the 1,520 EV buses under contract with Nakhonchaiair. In terms of funding, the company is prepared and expects to commence operations at the start of 2026, coinciding with the anticipated signing between Nakhonchaiair and BMTA.
