EV Board Approves Three-Tier EV Tax Structure to Boost Thai Production, to Go to Cabinet in September 2026

RegulationIndustry
โดย Money & Banking·TH·Read original
Summary · why it matters

Pornchai Theeravej, Director-General of the Excise Department, disclosed that the National Electric Vehicle Policy Committee, or EV Board, has approved in principle a restructuring of the excise tax on electric vehicles to support the industry's transition period. The new tax structure will be divided into three rates: the lowest rate for domestic manufacturers that meet local content requirements, a middle rate for importers that plan to invest in building factories in the country, and the highest rate for importers that only sell vehicles. The highest rate will take effect first, and private-sector representatives from three automotive associations have agreed with the approach but asked for further discussion on the grace period. Lawaron Saengsanit, Permanent Secretary of the Ministry of Finance, said clarity is expected within this September before the proposal goes to the Cabinet. Narit Therdsteerasukdi, Secretary-General of the Board of Investment, said the meeting also approved the appointment of two subcommittees, one on promoting electric vehicle manufacturing and one on developing the electric charging station network, and assigned the Permanent Secretary of the Ministry of Finance to consider additional support for commercial electric vehicles such as buses, electric trucks, and electric motorcycles. The meeting also acknowledged that of new vehicle registrations this year, more than 50% were electric vehicles combined, covering BEVs, hybrids, and plug-in hybrids, with BEVs rising from 0.3% five years ago to nearly 30%, and hybrids at about 23%. Meanwhile, four major Japanese automakers, Mitsubishi Motors, Isuzu, Honda, and Mazda, have announced plans for continued investment in Thailand totaling more than 50 billion baht through 2029 to 2030.

Impact on stocks 4

Electrification & Mobility▲ · 4 stocks
Isuzu Motors Limited
7202
▲ PositiveCapitalrelevance

Isuzu is named among four Japanese automakers planning continued investment in Thailand totaling over 50 billion baht through 2029-2030.

Mitsubishi Motors Corporation
7211
▲ PositiveCapitalrelevance

Mitsubishi Motors is named among four Japanese automakers planning continued investment in Thailand totaling over 50 billion baht through 2029-2030.

Mazda Motor Corp.
7261
▲ PositiveCapitalrelevance

Mazda is named among four Japanese automakers planning continued investment in Thailand totaling over 50 billion baht through 2029-2030.

Honda Motor Co., Ltd.
7267
▲ PositiveCapitalrelevance

Honda is named among four Japanese automakers planning continued investment in Thailand totaling over 50 billion baht through 2029-2030.

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