Thailand raises tax on fully imported EVs to 35%, finance minister says

Bangkok Post · Reuters and online reporters · 2026-11-03 05:34 UTC

⁠ Thailand's ​cabinet ​on ‌Tuesday approved an increase in the excise tax ​on ⁠ fully imported electric vehicles (EVs) to ‌35% from 10%, Finance ⁠ Minister Ekniti Nitithanprapas said, part of a new tiered tax structure ​aimed at encouraging investment ​and local ‌production.

Thailand's cabinet on Tuesday approved an increase in the excise tax on fully imported electric vehicles (EVs) to 35% from 10%, Finance Minister Ekniti Nitithanprapas said, part of a new tiered tax structure aimed at encouraging investment and local production.

The tax rate is slated to rise from Jan 1, 2027, according to reports.

The government's plan to raise excise taxes on completely built-up (CBU) EVs imported without a manufacturing base in Thailand has two main objectives. They include protecting investors who have already invested in manufacturing plants and supply chains in Thailand and encouraging automakers that still rely on imports to accelerate negotiations with the government to establish local production facilities.

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