Thailand, aiming to become a global electric vehicle (EV) manufacturing hub, is making it easier for European and other foreign battery electric vehicle (BEV) manufacturers to set up production in its territory. On Tuesday, according to the decision of the interim government, two changes were made to the package to encourage the development of third-generation EVs.
The first change concerns a BEV with a capacity of up to 10 seats, a battery capacity of more than 10 kWh and a suggested retail price (RRP) of less than 2 million baht. The importation of such units can be compensated by the local production of pickups or any BEV of the same size, capacity and RRP.
The second change concerns BEM with a capacity of 30 kWh and RRP from 2 to 7 million baht. The import of such units can be compensated by local production of the same model, but in any series.
The changes are meant to attract foreign manufacturers such as Mercedes-Benz and BMW, giving them the flexibility to switch to electric pickups, which are popular in Thailand. They will also help EV manufacturers who frequently change models and series on the production line.
The developed changes did not require additional financial costs and were approved by the interim government. Thailand is offering a wide range of incentives to buyers, importers and manufacturers as part of its goal of becoming a global electric vehicle manufacturing hub.
The following measures related to attracting investments in the field of electric vehicles were also noted:
The Investment Promotion Authority (BOI) has approved 15 projects worth 27.7 billion baht for the production of BEM and 77 projects worth 18.4 billion baht for the production of EV components. Four projects worth 2.17 billion baht were also approved to build charging stations, including 5,076 conventional and 3,960 fast charging stations.
The Industrial Works Department has developed measures to support the use of electric vehicles and electric cycles. There are 12 businesses participating in the initiative, including nine car and pickup truck manufacturers and three motorcycle manufacturers.
The Industrial Standards Authority has developed 123 standards for electric vehicles, components and related equipment to ensure the safe and reliable use of EVs and charging stations.
