Car enthusiasts have shown great interest in electric vehicles (EVs) at the 43rd Bangkok International Motor Show which concluded last Sunday.
The event, which was held at IMPACT Muang Thong Thani, sold about 1,500 EVs, mostly from Great Wall Motor (GWM). GWM is a new carmaker from China that made its way to Thailand only a year ago, riding the hype wave of EVs.
The motor show ignited the public interest in EVs, and brands showing off their latest lines of products for sedans, SUVs, and motorcycles.
EVs are becoming more popular in the Kingdom as the Cabinet earlier this year approved in principle a package of incentives to promote EVs adoption in Thailand, with the aim of making the country an EV manufacturing hub in Asia.
From 2022 to 2025, the strategy contains both tax and non-tax incentives. During the first two years, the package encourages broad usage of EVs in Thailand by granting duty and excise tax exemptions or reductions, as well as subsidies to boost demand for EVs and attract investment in the EV industry. These incentives will apply to the importation of fully assembled automobiles and motorcycles, as well as the local manufacture of entirely disassembled vehicles in Thailand.
For the next two years, the strategy supports the use of domestically manufactured EVs by abolishing or reducing import taxes on fully assembled vehicles while preserving additional incentives. The goal is to raise the cost of fully assembled vehicles above the cost of locally produced vehicles in order to incentivize operators to develop EVs in the country to fulfill the growing demand. (NNT)
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