The Thai government has agreed to extend the 100,000 baht per car subsidy for buyers of electric vehicles (EVs) until 2027, to promote the production and use of EVs in the country.
The government also agreed to cut the import duty charged on completely-built up (CBU) EVs by up to 40% for 2024 and 2025 on vehicles which are priced at up to two million baht per unit and to cut excise tax from 8% to 2% on cars priced at up to seven million baht, on the condition that the importers produce two EVs locally for every imported EV within 2026 and three for every imported EV within 2027.
Narit Therdsteerasukdi, secretary-general of the Board of Investment, said that the National Electric Vehicles Policy Committee, or EV Board, chaired by Prime Minister Srettha Thavisin, has given top priority to making Thailand the regional hub for the production of electric vehicles, with a goal to produce…
