Bangkok: The Cabinet has acknowledged the resolutions from the National Electric Vehicle Policy Committee meeting and approved measures to support the transition to the electric vehicle industry as proposed by the National Automotive Policy Committee. This move is aimed at driving the transition of Thailand's automotive industry towards electric vehicles.
According to Thai News Agency, Ms. Sasikarn Wattanachan, Deputy Government Spokesperson, revealed that the Cabinet approved measures to support the electric vehicle industry. This approval includes the resolution from the Policy Committee meeting No. 1/2024 held on December 4, 2024. The measures include assigning the Board of Investment (BOI) to inspect and certify compliance with investment conditions, the Excise Department to issue relevant announcements, and the Ministry of Industry (MOI) to issue procedures for compliance concerning CO2 emissions and the use of locally manufactured components.
The Cabinet has also approved extending the compensatory production period under the EV3 promotion measures. Participants unable to meet specified conditions can extend their production period under the EV3.5 measures. The Excise Department is tasked with issuing regulations for this extension, which aims to prevent adverse impacts on the automotive industry and avoid price wars.
In terms of excise tax adjustments for hybrid vehicles (HEV) and Mild Hybrid Electric Vehicles (MHEV), the Cabinet approved revised tax rates for passenger cars and buses with no more than 10 seats. The new rates apply between 2026 and 2032, with different rates based on CO2 emission levels.
The Policy Committee also reviewed the proposal to extend the period for counting the value of imported battery cells in calculating domestic value added. The Committee decided against extending the time frame for these measures, aiming instead to foster the development of the battery cell manufacturing industry within Thailand.
These measures are expected to facilitate the transition of Thailand's automotive industry to electric vehicles, maintaining its status as a key automotive production base. This aligns with future automotive technology development and market demands, enhancing Thailand's competitiveness and establishing it as a significant global production base for electric vehicles and components. The ultimate goal is to achieve the production and use of zero-emission vehicles by 2030.