Mexican Media Brands
Thailand to Waive Tax on EVs
Thailand is poised to drop its 2% excise tax on full-electric cars for carmakers that begin building them in the country less than three years from now.
#hybrid
Share
Thailand is poised to drop its 2% excise tax on full-electric cars for carmakers that begin building them in the country less than three years from now.
Because of the low volumes likely, the tax cut is largely symbolic, the Bangkok Post says. But the move is intended to signal the government’s commitment to support an EV industry in the country.
An earlier government incentive cut the tax to 2% from 8% for 15 carmakers that vowed to begin making EVs in Thailand by the end of 2021.
Thailand’s tax scheme offers lesser breaks for hybrids. The department notes that EVs in Thailand currently cost about 2 million bhat ($64,100), half of which is for the propulsion battery. To encourage EV sales, the country must promote local battery production and recycling, the department says.
RELATED CONTENT
-
Aluminum Sheet for EV Battery Enclosure
As the number of electric vehicles (EVs) is about to increase almost exponentially, aluminum supplier Novelis is preparing to provide customers with protective solutions
-
On Traffic Jams, Vehicle Size, Building EVs and more
From building electric vehicles—and training to do so—to considering traffic and its implication on drivers and vehicle size—there are plenty of considerations for people and their utilization of technology in the industry.
-
Toyota Updates Fuel Cell Test Truck
Toyota Motor Corp. unveiled an updated version of its Project Portal fuel cell-powered heavy-duty truck with reduced weight and increased driving range.