After the Bangkok Mass Transit Authority (BMTA) signed a contract with Nakhonchaiair Co., Ltd. to lease 1,520 clean energy air-conditioned electric buses (EV) for a period of seven years, with a total value of THB 14.90 billion on January 29, 2026, the BMTA will issue a notice to proceed (NTP) to the private sector within 30 days to set the date for commencement of operations, which is expected to start between February and March 2026.
The latest report as of February 3, 2026, states that the BMTA’s inspection committee held a meeting to outline the overall operational plan and prepare to issue the NTP. The report specifies the number of charging heads to be installed in each of the 12 depots and the number of EVs that must be delivered in each phase.
After the NTP is issued, the first batch of 500 EV buses will be delivered within 300 days, around March 2027, and the delivery will continue until all 1,520 buses have been handed over by May 2027, or within 360 days from NTP issuance. All buses are under the responsibility of NEX Point PCL (SET: NEX) and the Energy Absolute PCL (SET: EA), which will provide maintenance throughout the 7-year lease term.
These 1,520 EV buses will replace the same number of conventional (non-air-conditioned) buses, which will be gradually decommissioned. Once all conventional buses are retired, in addition to reducing air pollution, the BMTA expects to save more than THB 1.44 billion annually—approximately a 70% reduction in fuel costs and a significant decline in servicing costs from THB 1.8 billion per year, almost completely removed.
The first batch delivery timeline within 300 days is set to allow both the private sector to manufacture buses and the BMTA to upgrade depots and prepare for the installation of charging stations. The BMTA has allocated a budget framework of about THB 600 million in fiscal year 2026 for infrastructure upgrades, which are now in the design phase. There will be a total of 12 depots for parking and charging (five for BMTA and seven for public and private sectors).
