The state EV policy and investment incentive packages should help increase production, said the Office of Industrial Economics (OIE), according to
The Bangkok Post.
"After the EV3.0 scheme boosted demand for EVs in Thailand, the new EV3.5 scheme should further drive EV investment and manufacturing," said Warawan Chitaroon, director-general of the OIE. EV3.0 refers to a package of incentives including tax cuts and subsidies to promote EV consumption and production between 2022 and 2023, the newspaper added.
The subsidies range from 70,000 baht to 150,000 baht depending on the type and model of vehicle, with lower excise tax and import duties on completely knocked-down and completely built-up units. Participating car companies are committed to starting to produce EVs in Thailand from 2024, The Bangkok Post added.
