Official warns Neta may need to repay subsidies

Electric vehicle (EV) importers participating in the government subsidy programme are required to return any subsidies received to the government if they fail to comply with the conditions, says Deputy Finance Minister Paopoom Rojanasakul.

- WICHIT CHANTANUSORNSIRI LAMONPHET APISITNIRAN

These subsidies were tied to a condition to build an EV manufacturing plant within Thailand to eventually replace imports.

If a company cannot meet this requirement, they must return the subsidy funds, said Mr Paopoom.

Under Phase 2 of the government's EV promotion measures, which span from 2024 to 2027, the government provides subsidies to support EV usage.

These subsidies are distributed through EV importers to be passed on to buyers.

Passenger cars and pickups receive a subsidy of up to 100,000 baht per unit, while motorcycles are entitled to a subsidy of up to 10,000 baht per unit.

The government also reduced import duties on completely built-up EVs to a ceiling of 40% for 2024-25, and reduced the excise tax to 2% from the original rate of 8%.