As the government has a policy to promote the production of electric vehicles, the EV Board has devised the policy known as “30@30,” which sets the goal of having ZEVs (Zero Emission Vehicles) constitute at least 30% of all automotive production by 2030. It will be a major step into a low carbon society, and Thailand will become a base – and EV hub – for manufacturing electric vehicles and parts that will be important in tomorrow’s world.
When we look at investment promotion factors for EV manufacturers in Thailand, it is found that measures are being issued to accelerate the promotion and support of entrepreneurs by offering privileges and tax measures for EVs, as well as having a policy to support factors that promote electric train production, such as the following:
In 2022-2023, import duty exemptions or reductions, excise tax reductions and/or subsidies under specified conditions have been implemented to motivate and attract Thai entrepreneurs' investments in the electric vehicle industry;
In 2024-2025, emphasis will be placed on supporting domestically produced electric vehicles by “abolishing” the exemption or reduction of import duties on fully imported electric vehicles. This will make locally produced electric vehicles cheaper than imported electric vehicles, as an incentive for customers to use more domestically produced EVs.
It is progress in terms of privileges for promoting Thailand's electric vehicle industry, leading to Thailand becoming the center of electric vehicle production and exports to ASEAN countries, which are still waiting for investors. It is easy to see opportunities in the EV industry in Thailand and its potential to grow.
Source: NATIONAL NEWS BUREAU OF THAILAND (NNT)
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