Thai Cabinet Approves New Subsidies for EV Buyers

The Cabinet of Thailand in the meeting on Tuesday resolved to approve subsidies for electric vehicle buyers to take effect from May 2022 onward for three years to boost the usage of clean energy and achieve carbon neutrality.

The new subsidies will be proposed to related parties to regulate. The subsidies are as follows;

1) THB70,000-150,000 subsidies for electric cars and pickup trucks  and THB18,000 for electric motorcycles.

2) Decrease excise tax for cars from 8% to 2% and 0% for pickup trucks.

3) Decrease duty tax for completely built up (CBU) cars not exceeding 40% until 2023.

4) Decrease duty tax for completely knocked down (CKD) cars