It is reported that the plan is the second phase of the electric vehicle incentive measures launched by the Thai government and will be implemented starting next year for a period of four years. It is expected that 830,000 electric vehicles will benefit from this.

The Thai government plans to allocate 7.1 billion baht (approximately US$200 million) to subsidize electric vehicle buyers. From next year to 2025, Thai electric vehicle buyers will receive subsidies of up to 100,000 baht (US$2,858) per vehicle.

The Secretary-General of the Thailand Investment Commission also stated that pure electric vehicles imported into Thailand by foreign electric vehicle manufacturers in 2024 and 2025 will be eligible for up to 40% import tariff reduction and 2% consumption tax reduction, but only if they are in Electric vehicles will be produced locally in Thailand by 2027.

Thailand has always been one of the important automobile manufacturing centers in Asia, known as the Detroit of Asia. Thailand hopes that by 2030, 30% of its automobile production will come from electric vehicles.

At present, a number of domestic car companies have already targeted the Thai market. BYD, Great Wall Motors, SAIC, Changan, Nezha Automobile, etc. have successively set up factories in Thailand. Supporting suppliers such as Guoxuan Hi-Tech, Honeycomb Energy, and Seiko Automobile will also set up factories in Thailand. Deployment factory in Thailand.