Thailand pledges support for ICE vehicle production amidst EV transition

Prime Minister Srettha Thavisin has pledged continued support to internal combustion engine (ICE) vehicle production in Thailand for another 10 to 15 years, helping to facilitate a smooth transition towards electric vehicles (EVs). He also stated that incentives will be provided to ICE vehicle manufacturers who relocate their production bases to Thailand for export purposes.

Delivering his keynote speech at the Deciphering the Investment Code: Overcoming the Crisis forum held by Prachachart on Friday.

The 61 year old prime minister highlighted Japan’s position as the top foreign direct investor. However, he raised concerns that the evolving Thai EV market might disadvantage Japanese businesses, given their slower pace in adopting EV technology.

“I will travel to Japan in December and I want to assure the Board of Investment officials the…