CREATING ASEAN’S FULLY CHARGED EV HUBBOI incentives get set to propel Thailand’s EV visionImagine busy urban streets alive with battery-powered motorcycles, cars and buses but without the haze of exhaust fumes and the noise of whirring engines. While Hybrid Electric Vehicles (HEVs) have already become popular with Thailand’s car users, the country is forecast to see an increase in the number of more intensive battery-fuelled vehicle types of Plug-in Hybrid Vehicles (PHEVs) and Battery Electric Vehicles (BEVs) on the road over the next few years. In terms of EV parts and batteries, the BOI granted investment incentives to 14 parts and 10 battery manufacturing projects with a total investment value of US$350 million. Manufacture of Battery Electric Motorcycles: 3-year CIT exemption* maximum total of 11-year tax exemption available if all requirements are met. Manufacture of Battery Electric Three-Wheelers: 3-year CIT exemption* maximum total of 10-year tax exemption available if all requirements are met.

Source: Bangkok Post May 07, 2021 07:30 UTC