Thailand approves a subsidy for the sale of electric vehicles

The Council of Ministers of Thailand has approved subsidy packages worth 2.9 billion baht for the sale of electric vehicles. The Government intends that this campaign will help lower the prices of electric vehicles in the market.

The Thai Council of Ministers, at its weekly meeting, has approved subsidy packages for electric vehicles, as announced by the government spokesman, Anucha Burapachaisri.

These packages, worth 2.9 billion baht, will be offered at different values ​​depending on the size and specification of eligible EV models, covering both saloons and motorcycles.

The largest packages, at 150,000 baht per vehicle, will be offered for 10-seater vehicles with a battery of 30 kilowatt hours or more.

Packages of the same subsidy are offered for domestically manufactured trucks in the battery electric vehicle (BEV) category, with a battery size of 30 kilowatt hours or more. These vans must have a retail price of less than 2 million baht.

Electric cars with capacity for up to 10 passengers, but with batteries of less than 30 kilowatt hours, can receive a subsidy of 70,000 baht.

The smallest packages, at 18,000 baht per vehicle, will be offered to battery electric motorcycles in the BEV category, with a suggested retail price of no more than 150,000 baht.

All of these packages will be available to those who qualify, according to the announcement from the Excise Department. This includes manufacturers and authorized dealers. These entities must work with the department to establish mutual agreements and submit individual applications for each vehicle model.

The Excise Department will analyze the retail price structure from these applications to ensure that buyers benefit from the electric vehicle subsidies, before approving any package.