EV car Good Cat by Ora, a brand by Great Wall Motors, is displayed at the Bangkok International Motor show in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha/File Photo Acquire Licensing Rights
BANGKOK, Oct 12 (Reuters) – Thailand will provide incentives and tax breaks for carmakers setting up electric vehicle research and development centres, as it seeks to build on early success as a regional EV frontrunner, a government official said on Thursday.
Southeast Asia’s second-largest economy is the largest car producer and exporter in the region, with Japanese manufacturers including Toyota Motor Corp (7203.T), Isuzu Motors (7202.T) and Honda Motor (7267.T) dominating the Thai sector for decades.
Thailand aims to convert about 30% of its annual production of 2.5 million vehicles into EVs by 2030 and is preparing incentives to encourage more investment and conversion into EV…
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