EV prices zooming downhill after incentive packages are implemented
The price of electric vehicles have become a whole lot cheaper after incentive packages were implemented at the beginning of May.
Completely built-up (CBU) battery electric vehicles (BEVs) with less than 10 seats, for example, received a tariff cut from 20 to 40 per cent.
Here are the incentive packages and prices of EVs:
EVs costing under THB2 million
BEVs with a retail price of less than THB2 million will be exempted from import tariffs if the original tariffs are less than 40 per cent, and will be reduced by 40 per cent if the original tariffs exceed 40 per cent.
EVs priced between THB2 million and THB7 million
BEVs sporting a 30 kilowatts/hour battery and costing THB2 million to THB7 million will be exempt from import tariffs if the original tariffs are less than 20 per cent, and will be reduced by 20 per cent if the original tariffs exceed 20 per cent.
The government also approved a direct subsidy for EV importers and manufacturers, which are separated into two categories:
- THB70,000 direct subsidy for cars with 30kWh batteries
- THB150,000 direct subsidy for cars sporting more than a 30kWh battery
EVs become cheaper
Some 31,000 electric vehicles were booked at the recent Bangkok International Motor Show 2022, reflecting an increasing interest in EVs.
News agency Bangkokbiz surveyed the price of EVs in Thailand from March to April. Here are some examples of the discount on EVs:
- ORA Good Cat 400 Tech (47.7 kWh battery): from THB989,000 to THB828,500
- ORA Good Cat 400 Pro (47.7 kWh battery): from THB1,059,000 to THB898,500
- ORA Good Cat 500 Ultra (63.1 kWh battery): from THB1,199,000 to THB1,038,500
- New MG ZS D (50.3 kWh battery): from THB1,189,000 to THB949,000
- New MG ZS X (50.3 kWh battery): from THB1,269,000 to THB1,023,000
- MG EP (50.3 kWh battery): from THB988,000 baht to THB761,000
- MG EP Plus (50.3 kWh battery): from THB998,000 to THB771,000
- Nissan Leaf (40 kWh battery): from THB1,990,000 to THB1,499,000.