Cabinet to consider subsidies, perks for electric vehicle buyers
The Electric Vehicle (EV) Promotion Board is set to submit a proposal on EV promotion, expected to include cuts in both import and export tax, to the Cabinet for approval. The aim is to promote the use of electric vehicles in Thailand.
“Apart from tax reduction, the government is also planning to provide cash subsidy to EV buyers,” Deputy Finance Minister Santi Phromphat said on Monday. “After combining these benefits, the price of EVs in Thailand could come down by as much as 150,000 baht for large vehicles, while smaller vehicles will also enjoy a discount of several tens of thousands baht.”
Santi added that the EV promotion campaign will not just include tax reduction and subsidy, but will also work on attracting EV-related investment to Thailand.
“Initially, the government will offer investment privileges to manufacturers who establish an EV factory in Thailand and produce at least 150,000 vehicles in the next three years,” he said. “In the early phase, there will be no restrictions on the types or models of EV, as we want manufacturers to explore the Thai market and focus on vehicles that are popular and have high demand first.”
