Cheap charging, more stations to rev up Thailand’s EV promotion
Thailand will add more incentives for drivers to purchase electric vehicles in a bid to reach its target of 30 per cent EV production by 2030, Finance Minister Arkhom Termpittayapaisith announced on Friday.
In the pipeline are more charging stations nationwide as well as a special reduced rate for electricity at charging points.
Arkhom unveiled the latest moves to boost EV usage during his speech to mark Toyota Motor Thailand signing up to the Excise Department’s EV price subsidy scheme.
Toyota will sell its new bZ4X battery electric compact SUV under the scheme.
In February, the Cabinet approve subsidies of Bt70,000 to Bt150,000 on purchases of EVs as part of its package to promote Thailand’s EV manufacturing industry.
In the package, the excise tax on EV cars was cut from 8 per cent to 2 per cent and on EV pickups from 8 per cent to zero. The import tariff on complete EV cars was reduced to 40 per cent, 20 per cent and 0 per cent, depending on the engine size, until 2023.
The current four-year promotion package is due to expire in 2025. However, the National Electrical Vehicle Policy Board will decide this year on how to further boost EV usage, Excise Dept director-general Lawaron Saengsanit said.
The current package cuts the price of an EV by an average Bt300,000, the director-general added.
So far, three companies have signed up for the package. They are SAIC Motor-CP, MG Sales Thailand and Great Wall Motor Manufacturing (Thailand).
SAIC Motor-CP is the maker of MG vehicles in the country while MG Sales Thailand is the distributor and importer of MG vehicles.
Lawaron said about 5,000 EVs have been booked under the price subsidy. They include the Ora Good Cat from GWM and the MG EP and MG ZS models.
Lawaron said about 600 EVs were sold during the recent Bangkok International Motorshow, although their manufacturers had not yet applied for the subsidy package.
The impressive sale volumes for many EVs during the motor show had a significant impact on the Thai auto industry, signalling the country was heading towards a low-carbon society in line with government policy, Lawaron added.
He was also confident the country will reach its target of 30 per cent EVs as a proportion of total auto production by 2030.
He also expected at least five more manufacturers to apply for the EV subsidy package this year.
He added that two Thai EV motorcycle manufacturers will sign up for the package next week.
