According to a report in Thai China Daily on December 19, the Thai government has completed the discussion of tax reduction measures to stimulate the consumption of new energy vehicles, which is expected to be discussed and enacted at the regular cabinet meeting on the 21st. From the Ministry of Finance sources the concessions are as high as THB 500,000–800,000, and the measure will use THB 40 billion of government tax revenue, both Chinese, Japanese and European and American cars will benefit.
According to the latest information from Thailand’s National Electric Vehicle Policy Committee, the tax incentives for new energy vehicle purchases initiated by the government are not short-term stimulus measures, but will last for 4 to 5 years to match the progress of the national general electric vehicle plan. According to the government’s plan to transform traditional fuel-powered vehicles to electric new energy vehicles, the number of electric vehicles in Thailand will increase to 300,000 within five years.