Government Support

On November 2, 2023, Prime Minister Srettha Thavisin, as the chairman of the new EV board, announced the second phase of electric vehicle (EV) support measures. These measures include subsidies for electric cars, electric pickup trucks, and electric motorcycles, with subsidy rates ranging from 5,000 to 100,000 baht over a four-year period from 2024 to 2027.

The conditions are as follows:

• Electric cars priced no more than 2 million baht:
  With a battery size of 50 kWh or more, a subsidy of 100,000 baht/unit will be granted in the first year, 75,000 baht/unit in the second year, and 50,000 baht/unit in the third and fourth years.
• Electric cars with a battery size of less than 50 kWh will receive a subsidy of 50,000 baht/unit in the first year, 35,000 baht/unit in the second year, and 25,000 baht/unit in the third and fourth years.
• Imported completely built-up (CBU) vehicles will receive a reduction in import tax of up to 40% in the first two years (2024-2025), and excise tax will be reduced from 8% to 2%.

Electric cars priced between 2 million and 7 million baht:

• With a battery size of 50 kWh or more, no subsidy will be granted, but they will receive a reduction in excise tax from 8% to 2%.

Electric pickup trucks priced no more than 2 million baht:

• With a battery size of 50 kWh or more, a subsidy of 100,000 baht/unit will be granted throughout the four-year period, but only for those manufactured in Thailand.

Electric motorcycles priced no more than 150,000 baht:

• With a battery size of 3 kWh or more, a subsidy of 10,000 baht/unit will be granted throughout the four-year period, but only for those manufactured in Thailand, similar to electric pickup trucks.

In addition, the second phase of EV support measures, or EV 3.5, extends the vehicle registration deadline. Vehicles must now be sold by December 31, 2023, and registered by January 31, 2024, to be eligible for the benefits, extending the original registration deadline of December 31, 2023.