Call for light touch on missed EV targets

Electric vehicle (EV) manufacturers in Thailand are calling on the government to maintain subsidies and cancel fines for those failing to meet state production targets as the automotive industry slows to a crawl.

- LAMONPHET APISITNIRAN

Companies participating in the government's EV3.0 incentive package were granted lower excise tax and import duties, as well as subsidies to support their sales of imported cars, in exchange for a commitment to assemble battery EVs (BEVs) locally from 2024.

But many have failed to meet the requirements, attributed to sluggish domestic car sales that have plagued the Thai market for more than a year.

The government eased the conditions, but said it would fine manufacturers and stop subsidies for EVs that amounted to a maximum of 150,000 baht for each BEV.