BANGKOK, March 22 (Reuters) – Chinese automaker Great Wall Motor (601633.SS) has signed an agreement with Thailand’s government to slash retail prices of its electric vehicles, an executive said on Tuesday, a move aimed at boosting domestic EV sales and production.
The agreement, which involves a government subsidy and reduction in value-added tax, could save customers up to 160,000 baht ($4,779) per unit, Michael Chong, General Manager of Great Wall Motor Thailand told Reuters.
That would apply to vehicles typically priced 1 million baht, representing a saving of about 13-15%.
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“This is very beneficial for our customer … because this price is more affordable,” he said at the annual Bangkok International Motor Show.
A similar agreement has also been signed with rival automaker, SAIC-CP Motor, the Thai unit of SAIC Motor Corp
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