Tax breaks triple Thailand’s electric vehicle registrations
Huge road tax discounts saw the registration of electric vehicles soar by over 300% in the first four months of fiscal 2024 (October-January), Thailand’s Department of Land Transport (DLT) said on Tuesday.
A total of 48,096 EVs were registered during the period, up 324% from 11,340 in the same period a year earlier.
The DLT attributed the jump to the annual tax break for newly registered complete built-up EVs, which began in May last year and will run until November 2025.
Under the measure, EVs weighing under 1,800 kilograms will be taxed 320 baht annually instead of 1,600 baht.
Electric passenger vans weighing under 1,800 kilos will be taxed 160 baht instead of 800 baht.
Annual tax on electric motorcycles has dropped from 50 baht to 10 baht.
The tax breaks aim to encourage motorists to switch from internal combustion engine (ICE) vehicles to their electric counterparts, reducing air pollution from traffic emissions, one of the main sources of PM2.5 smog in big cities.
Long-term exposure to PM2.5 is linked with chronic diseases including lung and heart problems.
The DLT said switching to EVs would also reduce fuel costs for vehicle users, making it a worthwhile investment.
