Thailand will establish a special economic zone (SEZ) in Chachoengsao province, east of Bangkok, to support clean energy development, including battery plants, to serve electric vehicle (EV) production, according to Director of the Eastern Economic Corridor (EEC) Office Chula Sukmanop.
Bangkok (VNA) - Thailand will establish a special economic zone (SEZ) inChachoengsao province, east of Bangkok, to support clean energy development,including battery plants, to serve electric vehicle (EV) production, according to Directorof the Eastern Economic Corridor (EEC) Office Chula Sukmanop.
He said the new SEZ will resemble anindustrial estate, focusing on accommodating investments in batteries, cleanenergy, and electricity.
Thailand’sburgeoning EV industry was given another boost recently when Toyota announcedplans to produce Hilux pickup trucks at two factories in the country.
Domesticsales of battery electric vehicles (BEVs) soared by 603% last year to73,568 units, driven by government subsidies for purchasers of 70,000 to150,000 THB (1,900-4,160USD). The EVadoption trend is expected to continue to increase despite the fact that thegovernment subsidy for buyers this year has been reduced to 50,000-100,000 THB.
Thailand’sPolicy Committee will define the boundaries of the zone as well as investmentprivileges for businesses that set up operations there.
Previously, Thailand hasoffered investment privileges for investors at the EEC, which is home to several SEZs, including thehigh-speed rail promotion zone to connect three airports, EECd fordigital industry, EECi for innovation, a medical innovation zone, theaviation city zone, a genomics medical zone, and a digital innovation andadvanced technology centre in Ban Chang./.
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