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Thailand Ponders Tax Cut for EV Battery Plants
Thailand is studying a plan to lower its 8% excise tax on batteries for electric cars in a bid to encourage local production.
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Thailand is studying a plan to lower its 8% excise tax on batteries for electric cars in a bid to encourage local production, the Bangkok Post reports.
The cut would follow a decision last week to finalize an earlier plan to eliminate the country’s 2% excise tax on entire EVs between the beginning of next year and the end of 2022. That tax had previously been reduced from 8% for carmakers that pledged to begin building EVs in Thailand by the end of 2021.
A source tells the newspaper that the government is deciding whether to lower taxes on imported batteries, locally produced devices or both.
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