Thailand Approves Incentives To Promote EV Shift
Highlights
In the first two years, the measures will focus on encouraging widespread domestic use of EVs by providing tax breaks and subsidies for imported models and those made locally, he said. In the last years of the package, the support will mainly be on promoting domestically produced EVs, while cancelling some benefits for imported models, Thanakorn said.
"This is to encourage operators to accelerate the production of electric vehicles in the country to meet increasing demand," he said. Thailand last year produced 1.7 million regular vehicles, for firms that include Toyota, Honda and Mitsubishi.
Thanakorn did not give further details on the incentives, which he said would need to be worked out with the energy ministry. According to earlier media reports, the package will help reduce the price of each EV by between 70,000 baht ($2,165) and 150,000 baht ($4,638).
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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