Thailand’s electric vehicle (EV) makers consider leaving the government’s incentive scheme due to a market slowdown, the Electric Vehicle Association of Thailand (EVAT) reports.
Launched in 2022, the EV3.0 scheme offers benefits like reduced taxes and subsidies, but requires local assembly by 2024 with specific production targets.
Chinese manufacturers have expressed concerns about these requirements, questioning their effectiveness in boosting sales amid economic difficulties, according to EVAT President Suroj Sangsanit.
Subsidies under EV3.0 include up to 150,000 baht for electric vehicles under 2 million baht, and 18,000 baht for electric motorcycles priced below 150,000 baht.
In October, sales of battery electric vehicles dropped by 49.7% from the previous year to 3,717 units, while traditional car sales fell by 27.8% to 11,562, according to the Federation of Thai Industries.
Source: ASEAN NOW
