Thailand BOI extends electric vehicle production timeline, offers incentives

The Board of Investment of Thailand (BOI) announced that in order to promote the development of Thailand's automotive industry and make it a production center for electric vehicles in Southeast Asia, Thailand will extend the production schedule of pure electric vehicles and provide incentives for hybrid electric vehicles. Currently, Thailand has imported 84,000 pure electric vehicles through the EV 3.0 plan. In addition, BOI has also decided to reduce the consumption tax rate for some hybrid electric vehicles and mild hybrid electric vehicles produced locally in Thailand.