A four-seater compact EV developed by FOMM (Photo: Bangkokpost.com)Bangkok (VNA) – The Industry Ministry of Thailand is pushing aheadwith its ambitious plan to bring prices of electric vehicles (EVs) closer tothose of traditional fuel-powered cars by reducing the import duty on autoparts used to assemble EVs in the country.
The Office of Industrial Economics has been assigned to conduct afeasibility study of tax reduction options and forward its findings to theNational Electric Vehicle Policy Committee, known as the EV board, forconsideration this month.
Industry Minister Suriya Jungrungreangkit expects the taxation measure to helpincrease demand in Thailand for EVs, which are still costly, and at the sametime support state measures to curb hazardous PM2.5 dust emitted by old carengines.
Tax reductions will make EVs cheaper, he said, adding the current tax ratestands at 80 percent of auto part prices.
The research team will consider tax reductions for auto parts and completelybuilt EVs.
Other factors taken into consideration include the state plan to increase thenumber of EVs in the country and affordable EV prices for buyers, which mayrange from 700,000 to 800,000 THB (22,300-25,500 USD), Suriya said.
Under the country’s EV master plan, officials plan to develop the domestic EVindustry, making Thailand a major production base in the region. The number ofEVs will reach 750,000, or 30 percent of total vehicle production of 2.5million units in 2030./.
VNA
