When it comes to the EV battery industry, Thailand has a policy to fully promote investment in this business group, so it is considering investment promotion conditions that will suit electric vehicle manufacturers wanting to produce or use domestic batteries.
If a car manufacturer produces or uses key parts, such as a Battery Management System (BMS), Drive Control Unit (DCU), or Traction Motor, in Thailand, they will be entitled to exemption from tax on corporate income for a period of 3-8 years and a 90% reduction in import duty on raw materials and essential materials that are not domestically produced for a period of 2 years.
These measures also relate to the production of key parts for electric cars. In the third quarter of 2022, the Board of Investment (BOI) approved investment promotion for 35 electric vehicle parts production projects from 26 companies, with a total value of 15,410.2 million baht (excluding cost of land and working capital), such as batteries, traction motors, BMS, DCU, inverters, onboard chargers, DC/DC converters, high-voltage harnesses, battery cooling systems, and equipment for electric charging stations.
It is clear that these industries correspond to the policy to promote the production of EVs in Thailand. Therefore, entrepreneurs in this industry have the opportunity to invest and jointly drive the industry forward, with the National Electric Vehicle Board, or EV Board, having set a goal to use all types of electric vehicles, totaling more than 1.05 million vehicles, by 2025.
Source: Thailand Board of Investment
Tel: +66 2553 8111
EN
CN
DE
JP
TH
