Thailand dreams to become EV Hub in 5 years, taxes exemption in line

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BANGKOK (TNA) – The government plans to turn Thailand into an electric vehicle hub in five years with several promotional measures.



Deputy Prime Minister Somkid Jatusripitak announced the policy after chairing a meeting of the National Electric Vehicle Policy Committee. He said that the committee was working out strategies for the country to become a hub of electric vehicles including electric motorcycles in five years.

“The national strategies focus on the environment, solutions to air pollution and the transition of the Thai automotive industry to electric vehicles. Fairness is guaranteed for existing car makers in the country,” he said.

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Mr Somkid ordered the Board of Investment to increase promotional privileges for investment in the production of electric vehicle parts including batteries and support the import of cheap batteries. Such measures would add to corporate income tax exemption for 8-10 years, he said.

Besides, the government would support its organizations and state enterprises in using electric vehicles including passenger buses and PTT Plc and the Electricity Generating Authority of Thailand would join forces to open charging stations, the deputy prime minister said.

Energy Minister Sontirat Sontijirawong said promotion for electric vehicle use could begin with the passenger bus operators, taxi motorcyclists and car owners who could afford electric vehicles.
Excise tax measures could boost electric vehicle purchasing power and charging stations should stand about 200 kilometers apart, he said.

Supant Mongkolsuthree, chairman of The Federation of Thai Industries, said the government should promote local components of electric vehicles, clearly specify the types of electric vehicles that would enjoy promotional privileges, work out guidelines for the proper disposal of batteries and extend corporate income tax exemption longer than eight years. (TNA)