GlobalData : New set of incentives to help Thailand achieve 50% electrification of new cars by 2035, says GlobalData

Following the news that Thailand cabinet approved a package of electric vehicle (EV) incentives for 2022 to 2025;

Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading data and analytics company, offers his view:

“The approval of incentives, including tax cuts and incentives on imported and locally manufactured electric vehicles (EV), is in line with the Thailand’s vision of 50% electrification of all new cars by 2035 and making it an EV hub.

“Thailand is already ahead in the EV race, when compared to other key ASEAN countries such as Indonesia and Malaysia. The Board of Investment (BOI) manufacturing incentives has already brought some major investments and the new incentives are set to further enhance customer and manufacturer confidence in Thailand.

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