Thailand proposes incentives for electric vehicle industry

Illustrative image (Photo: AFP/VNA)

Bangkok (VNA) – The National Electric Vehicle Policy Committee (NEVPC) of Thailand planned to submit a proposal on incentive for investment in developing electric vehicle (EV) industry to the Thai government on February 15.

If the proposal is not considered at the Cabinet meeting on February 15, the Thai government is expected to consider this issue in the first quarter of 2022 in order to promote the Southeast Asian country's electric vehicle development plan.

Thai Deputy Minister of Finance Santi Promphat said the EV industry will first receive a package of import tax cut, including excise tax and a subsidy on distribution of electric vehicles nationwide towards reducing the selling price of this environmentally friendly vehicle.

Sati said the proposal is hoped to help lower the price by up to 150,000 THB (nearly 5,000 USD) for big electric vehicles and tens of thousands of baht for small ones./.

VNA