The Thailand Board of Investment (BOI) today approved the roll out of a comprehensive set of incentives covering all major aspects of the electric vehicles (EV) supply chain, with a focus on battery electric vehicles (BEVs), local production of critical parts, and the inclusion of commercial vehicles of all sizes as well as ships.

“In line with the Government policy to promote electric vehicles across the board, and to answer the radical changes underway in the global car industry, the BOI today approved a package that will accelerate the development of EV production and related supply chain in Thailand, and allow the entire sector to move into higher gear,”

Ms Duangjai Asawachintachit, Secretary General of the BOI

New Package for EV

The new promotion package, which replaces the first EV package which expired in 2018, covers a comprehensive range of electrical vehicles, namely passenger cars, buses, trucks, motorcycles, tricycles, and ships.

Incentive schemes for these different types of electric vehicles can be summarized as follows:

Four wheelers

Qualified projects with a total investment package worth at least 5 billion baht will be granted a 3-year tax holidays for PHEVs, but as for BEVs, an 8-year corporate income tax exemption period will be offered and will be extendable in case of R&D investment/expenditures.

As for qualified projects with total investment worth less than 5 billion baht, 3-year tax holidays will be granted on PHEVs and BEVs, but the tax holidays period for BEVs can be extended if the project meets the set requirements, such as production commencement by 2022, additional part production, minimum…

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