Leo Watanabe
2024年8月26日
The National Electric Vehicle Policy Committee (EV Board) approved a temporary reduction in the excise tax rate for hybrid electric vehicles (HEVs).
The excise tax reduction is conditional on new investments aligned with advanced technological standards and CO2 emission requirements. The government´s focus on the EV ecosystem highlights the ambition of positioning Thailand as a key player in sustainable mobility.
EV manufacturers must invest a minimum of 3 billion baht in Thailand between 2024 and 2027 subject to the Board of Investment´s (BOI) approval to qualify for the excise tax reduction. The reduced tax rates will apply from 2028 to 2032 for HEVs with no more than 10 seats. The excise tax for vehicles emitting less than 100g of CO2/km will be taxed at 6% and those emitting 101-120g/km will be taxed at 9%. The vehicles must also incorporate at least four out of six Advanced Driver-Assistance Systems (ADAS) such as Advanced Emergency Braking and Adaptive Cruise Control to qualify for the program.
This policy is expected to drive 50 billion baht in new investments and supports Thailand's ambition to become a regional hub for electrified vehicle production. The EV Board also noted that all HEVs produced under this scheme must include key components manufactured domestically to reinforce the development of a localized supply chain.