Ministry mulls third phase of EV promotion
Bangkok Post · Wichit Chantanusornsiri ·
The Finance Ministry is considering introducing a third phase of policies to promote the electric vehicle (EV) industry, which would enforce new local content requirements.
The Finance Ministry is considering introducing a third phase of policies to promote the electric vehicle (EV) industry, which would enforce new local content requirements.
According to finance permanent secretary Lavaron Sangsnit, after Thailand introduced its EV 3.0 and EV 3.5 incentive schemes, which provided subsidies to EV buyers, eight Chinese EV manufacturers invested in establishing production facilities in Thailand.
The second step, which was recently approved by the cabinet, involves increasing the excise tax on imported EVs to 35% from 2027, up from the current rates of 10% for battery EVs and 15% for range-extended EVs.
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