Thailand EV registrations soar in March as buyers grab generous incentives
The total number of electric vehicles (EVs) registered in Thailand surged to 61,594 in March, driven by subsidies and incentives, government spokesperson Anucha Burapachaisri said on Thursday.
EV registrations in March rose to 8,522, almost double January’s figure of 4,543, according to Land Transport Department data.
Most EVs registered in March were cars with no more than seven seats (6,205), followed by motorcycles (2,263).
Anucha said the rise was driven by government incentives for EVs buyers, as well as measures to help EV manufacturers penetrate the Thai market. Buyers of four-wheel EVs get discounts of 70,000 to 150,000 baht, depending on battery size. A subsidy of 18,000 baht is available for purchases of e-motorcycles.
For manufacturers of battery electric vehicles (BEVs), import duties have been cut by 40% on units priced under 2 million baht and 20% for units priced between 2 million and 7 million baht. Other government incentives include a 24-billion-baht subsidy scheme for the local EV battery industry. The aim is to transform Thailand into an EV hub, with electric vehicles making up 30% of total autos produced by 2030 and sales of combustion-engine vehicle phased out completely by 2035.
Anucha said the Bangkok International Motor Show from March 22 to April 2 helped boost EV bookings. Registrations had also been bolstered by March deliveries from manufacturers including Tesla, BYD and MG, he said, adding he was confident EV purchases would continue to rise.
The government’s promotion of EVs would help Thailand develop a sustainable economy that preserves the environment, Anucha said.
"This is Thailand's important steppingstone towards a low-carbon society."
