Thursday, February 22, 2024

Going Big on EVs

Already Southeast Asia’s largest car manufacturer, Thailand is having an eye on being the hub of electric vehicle (EV) manufacturing in the region. And a new excise tax system for EVs is being formulated to help stimulate demand as well as attract foreign investments to the sector.

 According to Lavaron Sangsnit, Director-general of the Excise Department, the draft of the new EV excise tax is expected to be ready sometime thus year. He also revealed that this would place emphasis on clean energy in order to encourage EV use.

 In addition, the national committee in charge of the EV policy has also set a number of targets for EVs in the country. For instance, it aims for the number of EVs in use in Thailand to reach 225,000 units by 2025 or 10 percent of total vehicle production, and to reach 725,000 units or 30 percent of total car production by 2030.

 The committee, which is chaired by Deputy Prime Minister Supattanapong Punmeechaow, has also set a target for the country to have 12,000 fast EV chargers by 2030. To facilitate that it has held discussions on the development of a smart grid infrastructure to serve the EV sector.

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