Mr. Narit Therdsteerasukdi, the Secretary General of Thailand Board of Investment and the Executive Committee Secretariat of The National Electric Vehicle Policy Board (EV Board) announced after the EV Board meeting which was chaired by Mr. Srettha Thavisin, the Prime Minister at the Government House of Thailand.

The EV Board has approved the second phase of EV Package, known as EV 3.5, for 4 years (2024-2027) to promote EV industry’s continuous growth and to facilitate investment opportunities in EV manufacturing in Thailand for new players. The package aims to support investment covering the entire EV industry ecosystem. Companies who have already participated in EV 3 are eligible to apply these measures complying with the conditions and regulations.

As part of the EV 3.5 package, the government will provide subsidies for the purchase of electric cars, electric pickup trucks, and electric motorcycles based on the vehicle types and battery capacities. The relevant agencies will discuss further to stipulate the subsidy rate as appropriate and propose to the cabinet’s approval.