Thailand’s National Electric Vehicle Policy Committee (EV Board), today approved a temporary lowering of the excise tax rate for hybrid electric vehicles (HEV), on the condition the manufacturers make new investments in the technology in line with the latest technological standards and strict CO2 emission requirements. The new measure is expected to lead to 50 billion baht (ca. US$ 1.4 billion) in new investments.

As a result of the government's promotion measures in Thailand's EV sector, the combined investments made so far exceed 80 billion baht, encompassing the production of Battery Electric Vehicles (BEV), batteries, key parts, and charging stations.