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Thailand adjusts EV policy to boost exports

Under the revised terms, one BEV produced for export will be counted as 1.5 vehicles toward a manufacturer's local production quota, making it easier to meet production commitments, according to the Board of Investment (BOI).

Chinese brands dominate Thailand's EV segment, with a combined share of over 70% of sales. (Photo: asia.nikkei.com)
Chinese brands dominate Thailand's EV segment, with a combined share of over 70% of sales. (Photo: asia.nikkei.com)

Bangkok (VNA) - Thailand has approved adjustments to its key incentive programmes to encourage manufacturers to boost exports of battery electric vehicles (BEVs), aiming to strengthen the country's position as a regional EV production hub.

Manufacturers participating in the Thai government's EV programme, which began in 2022, are required to produce vehicles locally as compensation for receiving subsidies and import duty waivers.

Under the revised terms, one BEV produced for export will be counted as 1.5 vehicles toward a manufacturer's local production quota, making it easier to meet production commitments, according to the Board of Investment (BOI).

BOI Secretary General Narit Therdsteerasukdi said the revisions will allow greater flexibility and help Thailand, which is already the leader in the region's automotive manufacturing industry, to become a key EV production base.

The policy adjustment comes as total investment in the country's EV supply chain reached 137.7 billion THB (about 4.21 billion USD) as of June 2025, the BOI said in a statement.

The move is expected to increase the Southeast Asian nation's EV exports to approximately 12,500 units in 2025 and 52,000 units in 2026, as proposed by the Federation of Thai Industries./.

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