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Thai cabinet exempts locally-assembled and produced EVs from customs duties

Thai cabinet exempts locally-assembled and produced EVs from customs duties

21 Sept 03:10 Key points summarised by AI
  • The Thai cabinet approved a customs duty exemption for locally assembled or produced Battery Electric Vehicles (BEVs) from now until December 31, 2025.
  • This exemption covers sedans, passenger cars, and pickup trucks, provided they meet specific conditions regarding battery cell value and local/ASEAN content in their production.
  • The policy aims to significantly boost Thailand's electric vehicle industry, positioning the country as a potential regional hub for BEV production and assembly.
  • Additionally, the cabinet reduced the road tax for EVs in their first year of registration to stimulate domestic demand and further support the industry.
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