Chinese EV makers lift 2026 prices as EV3.5 cuts subsidies and hits imports with higher tax

Chinese automakers are rolling out new, higher EV price lists for 2026 after the government’s EV3.0 scheme ended and was replaced by EV3.5, which reduces support and changes incentives, particularly for imported models.

Under EV3.5, the subsidy has been cut to 50,000 baht and applies only to vehicles assembled in Thailand. Imported models are not eligible for benefits and face a higher excise tax of 10%, up from 2%, if brought in under EV3.5 conditions.

Industry sources say the shift comes after aggressive discounting late last year, when many brands cut prices heavily to clear stock and meet EV3.0 production requirements before the end of 2025. The discounting squeezed per-unit margins compared with initial launch prices, but was used to compete in an increasingly crowded market.

Rêver Automotive, BYD’s distributor, expects total 2025 sales to reach nearly 50,000 units (with registrations at 44,636). Executives have confirmed that BYD ATTO 3 and BYD DOLPHIN will move up in price as previously announced, with new pricing being prepared and awaiting approval from the Excise Department.

Imported models have already been repriced. BYD Sealion 7 is up 190,000 baht to 1,264,900-1,364,900 baht, while BYD M6 has risen 160,000 baht to 909,900-1,009,900 baht.

The fully imported GAC AION UT EV is up 80,000 baht to 549,900-649,900 baht. The GAC HYPTEC HT SUV has increased by 75,000 baht to 1,324,000-1,624,000 baht.

MG Sales (Thailand) said it has updated prices and special offers across its EV line-up, alongside an EV Lifetime Warranty covering the high-voltage battery, drive motor and motor control unit for the lifetime of the vehicle, with no limits on mileage or ownership changes.

Among imported models, MG IM6 is up 100,000 baht to 1,399,900-1,799,900 baht, while MG MAXUS 9 PLUS has risen 50,000 baht to 1,849,000 baht. The locally assembled MG4 is up 30,000 baht to 549,900-649,900 baht, effective January 12, 2026.

Da ShenShen, managing director of SAIC Motor-CP, said MG recorded total domestic and export sales of 35,872 vehicles in 2025, up 44% year-on-year, underlining the brand’s strength in Thailand and the country’s strategic importance in ASEAN. He added that MG completed 100% of its EV3.0 compensation production requirements in December.

Meanwhile, Great Wall Motor (GWM) reported 2025 sales of 18,096 vehicles, up 146% from 2024. Of these, 7,080 were ORA Good Cat units.