Thailand's electric car dreams soon to become a reality

Image from The Nation Thailand/ANN

BANGKOK, Dec 19 (The Nation Thailand/ANN): In a bid to have more electric vehicles (EV) on the roads of Thailand, the National EV Policy Committee is getting ready to propose a draft to the Cabinet this week.

It aims to have the measures implemented in the first quarter of 2022.

According to the proposal, incentives offered to buyers of EVs will last for about four to five years and aims to have about 300,000 EVs on the roads within that period.

The committee is proposing a reduction in excise taxes, customs duties and government subsidies worth up to 40 billion baht.

Under the draft measure, two schemes will be offered, one for vehicles cheaper than 2 million baht, and one for those that cost more than 2 million baht.

EVs costing less than 2 million will enjoy a 40 per cent cut in customs duties, as well as a 2 per cent reduction in excise taxes and other subsidies.

The benefits will be capped at 150,000 baht per vehicle.

Vehicles with 30kWh (kilowatt per hour), which fall under the 400,000 to 500,000 price category, will receive a subsidy of about 70,000.

Vehicles with larger batteries, which will fall in the 900,000 baht price range, will receive a subsidy of 150,000 baht.

Buyers of EVs that cost more than 2 million baht will not get direct benefits, but the tariff will be reduced by 40 per cent and the excise tax by 2 per cent.

The reduction of import duties and excise tax will bring the cost of EVs down by 700,000 to 800,000 baht, the committee said. The Nation/ANN