Thailand expects major rise in EV imports under new four-year plan

The director-general of the Excise Department projected a significant increase in electric vehicle (EV) imports, with an estimated 175,000 units expected to reach Thailand within two years. This comes as part of a four-year plan, EV3.5 (2024-27), which requires importers to establish a production base in the country from 2024-25 onwards, to replace imports with domestically produced EVs.

The plan predicts a domestic production of between 350,000 and 525,000 EV units by 2027. The estimated subsidies provided under this scheme amount to 34 billion baht. Ekniti Nitithanprapas elaborated on the objectives of EV3.5, stating that the plan aims to spur investment in EV production, bolster competitiveness, promote carbon neutrality and net-zero emissions, and align with the Excise Department’s strategy for sustainable growth.

Under EV3.5, by 2026, participants must establish a production…