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Thailand Rules Out a Hike in EV Subsidies
Thailand says it won’t offer sales incentives beyond a discounted excise tax to spur demand for electric vehicles, the Bangkok Post reports.
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Thailand says it won’t offer sales incentives beyond a discounted excise tax to spur demand for electric vehicles, the Bangkok Post reports.
Industry Minister Uttama Savanayan notes that the government cut its excise tax on hybrid and plug-ins to a little as 5% from the usual 25%, based on their carbon dioxide emission levels. Pure electric cars are taxed at 2%.
Uttama says those incentives are sufficient to date for Thailand’s microscopic market for electrified vehicles. Both discounts apply only to locally produced vehicles and are expected to expire in late 2025.
Several Japanese carmakers have applied for the discounts, but the Post says only Toyota Motor Corp. has been granted them to date. The newspaper says BMW and Mercedes-Benz plan to seek the incentives for their hybrid models.
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