FILE PHOTO: A BMW M plug-in hybrid electric vehicle is seen during the media day of the 41st Bangkok International Motor Show after the Thai government eased measures to prevent the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand July 14, 2020. REUTERS/Jorge Silva/File Photo
BANGKOK (Reuters) - Thailand's cabinet on Tuesday approved tax incentives to promote a shift to electric vehicles (EVs), and to attract "high potential" foreigners to help boost the economy, the finance minister said.
The vehicle tax measures include reducing import duty this year and next by as much as 40% for completely built EVs priced up to 2 million baht ($61,805), and by 20% for those priced between 2 million and 7 million baht.
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