Aiming for a substantial boost in their electric vehicle (EV) production, Thai authorities have set a target of 359,000 units for the coming year. This ambitious plan is supported by a 39.5 billion baht investment, as confirmed by industry insiders.
The Office of Industrial Economics (OIE) is optimistic that the state’s EV policy, coupled with incentives for investment, will lead to an uptick in production. Warawan Chitaroon, the OIE’s director-general, highlighted the positive impact of the EV3.0 scheme, which has already stimulated demand for EVs in Thailand. Warawan stated that the new EV3.5 scheme is expected to further encourage EV investment and manufacturing.
The EV3.0 scheme provided a host of incentives, including tax cuts and subsidies, to boost both EV consumption and production for the period of 2022 to this year. Depending on the vehicle type and model, subsidies…
