The EV Board meeting on September 10, 2026, chaired by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas, approved in principle a new restructuring of the electric vehicle excise tax, tying import conditions to actual production investment and setting graduated tax rates according to levels of investment, production, and use of domestic parts. Narit Therdsteerasukdi, Secretary-General of the Board of Investment, in his capacity as a board member and secretary of the EV Board, revealed that the new structure is divided into four groups: fully imported vehicles with no factory in Thailand will face higher taxes; imports by manufacturers with factories in Thailand will have import volumes determined by the economic value created domestically; domestically produced vehicles using a moderate level of local parts will receive rates proportional to that share; and domestically produced vehicles using a high level of local parts, especially key electronic components, will receive the highest benefits. The meeting also approved the appointment of two subcommittees: the first, chaired by the Minister of Industry, will oversee the production chain across the entire life cycle, including used batteries and end-of-life vehicles; the second, chaired by the Minister of Energy, will push for charging stations and improve regulations. It also assigned the Permanent Secretary of the Ministry of Finance to study additional promotional measures for commercial electric vehicles and electric motorcycles. In the first seven months of 2026, battery electric vehicle registrations totaled 126,950 units, up 88% from the same period last year, while xEV registrations combined accounted for 55% of all vehicle registrations. According to BOI data as of August 31, 2026, a total of 189 projects in the EV industry and related businesses have been approved, with investment value of 151.372 billion baht, comprising battery production businesses at 87.073 billion baht, BEV vehicle production at 38.563 billion baht, key parts production at 12.558 billion baht, and electric charging station infrastructure with approved installation plans totaling 23,135 outlets, of which 10,249 are Quick Charge outlets, representing 85% of the target of 12,000 outlets by 2030. Meanwhile, Japanese automakers with existing production bases in Thailand, namely Mitsubishi, Honda, Mazda, and Isuzu, have announced additional investment plans totaling more than 50 billion baht to develop new models and upgrade production lines with automation and robotics, supporting HEV, MHEV, and various forms of electric vehicle technology.
Isuzu Motors Limited
Mazda Motor Corp.
Honda Motor Co., Ltd.