Uncertain year expected for EV market

Only seven days remain for electric vehicle makers to increase sales before entering an unclear 2026.

- LAMONPHET APISITNIRAN

Though the Automotive Industry Club of the Federation of Thai Industries (FTI) reported a year-on-year surge of more than 63% in domestic sales to 100,553 battery EVs (BEVs) in the passenger car category between January and November 2025, there is little confidence sales volume will retain momentum in 2026.

The government's EV3.0 incentive scheme expires on Dec 31, which could result in higher BEV prices and a subsequent sales drop.

Introduced to promote BEV consumption and production, the EV3.0 scheme offered automakers reduced excise tax and import duties, along with subsidies to support sales.

In return, companies were required to commit to assembling BEVs locally from 2024. Under the programme, subsidies of up to 150,000 baht were provided for BEVs priced less than 2 million baht.