EV Board Approves Three-Tier Excise Tax on Cars; KGEN Says EV Orders Up 50%

RegulationIndustry
โดย ทันหุ้น·TH·Read original
Summary · why it matters

The new National Electric Vehicle Policy Committee, or EV Board, at its first meeting approved in principle a restructuring of the car excise tax into three tiers, covering battery electric vehicles, REEV electric vehicles, hybrid cars and plug-in hybrids. Tier 1 carries the lowest rate for cars produced domestically and using domestic parts, Tier 2 a middle rate for imported cars with clear plans to invest in building factories in Thailand, and Tier 3 the highest rate for commercially sold imported cars with no investment plans. The Excise Department will speed up finalising the tax rate for each tier and submit it to the Cabinet for consideration as soon as possible. Meanwhile, Khanisorn Srivachiraprapha, chairman of the advisory board of King Gen Public Company Limited, or KGEN, said EV car orders grew 50% from the same period last year, with cumulative sales of about 10,000 units since the Big Motor Sale event, and deliveries to customers are being gradually made. The new excise tax rate may rise to about 30% and is expected to take effect around the end of this year, prompting consumers to speed up their purchasing decisions to avoid possibly higher costs. KGEN also plans to announce the price of its V27 model within this month, along with plans to launch additional new models at the Motor Expo at the end of the year, and is in the process of bidding to supply vehicles to one of the country's leading large logistics businesses, which it is highly confident of winning.

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KGEN reports EV orders up 50% year-on-year with ~10,000 cumulative units sold and is bidding to supply a major logistics firm.

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