Bangkok (VNA) – The Thai Ministry of Transport is preparing an action plan to boost EV adoption by 300,000 vehicles, supported by tax incentives and a car trade-in scheme.
Deputy Transport Minister Siripong Angkasakulkiat outlined two key measures following discussions with the Department of Land Transport (DLT), aimed at accelerating the shift from petrol-powered vehicles. The first measure is the expansion of the car trade-in policy which should include not only private vehicles but also public transport, particularly taxis. The plan seeks to encourage operators to switch to electric models to reduce fuel costs and urban air pollution.
The second measure involves reducing annual vehicle tax for EVs and hybrid vehicles by up to 80% or waiving it entirely during the transition period, aiming to ease the financial burden on motorists and stimulate wider adoption of cleaner technology.
Siripong indicated that fiscal implications are under review with the Finance Ministry before submission to the cabinet. If approved, the measures are expected to be enacted through a royal decree, potentially taking effect in June.
Currently, a total of 55,217 transport operators and 206,529 vehicles have registered for the government's diesel fuel aid scheme. The relief provides for public buses, vans, taxis, motorcycle taxis and freight vehicles.
The official said the government is also considering strengthening incentives for taxis to ensure a smoother transition, while reaffirming that public transport driving licences remain restricted to Thai nationals./.
Thailand plans major industrial overhaul fund
Under the proposed model, the fund will draw in private-sector co-investment. Talks are set to be held this week with the World Bank as the first institution to be approached, as it is an international financial institution that provides financing and technical assistance to developing countries.
