Thailand is planning to introduce a new purchase subsidy scheme for domestically made electric vehicles (EVs) from 2024 to 2027.
Key Takeaways
- Thailand is planning to offer a purchase subsidy scheme for domestically made electric vehicles to attract foreign investment and position itself as a Southeast Asian EV manufacturing hub.
- The new subsidy scheme, called EV3.5, will provide a subsidy of up to 100,000 baht per car from 2024 to 2027, aiming to support the growing demand for EVs in the country.
- China is leading the way in Thailand’s EV market, with major Chinese brands already established and new investments from European makers also being encouraged.
The scheme, known as “EV3.5,” will offer subsidies of up to 100,000 baht ($2,760) per car, aiming to attract foreign investment and position Thailand as a regional EV manufacturing hub.
The current subsidy scheme, which ranges from…
