Prices of BEVs set to rise next year

Increase follows expiry of EV3.0 initiative

- LAMONPHET APISITNIRAN

Visitors pack an exhibition hall at Impact Exhibition and Convention Centre where the 12-day Thailand International Moto Expo is being held. The expo comes to a close this evening.

(PATTARAPONG CHATPATTARASILL)

The prices of battery electric vehicles (BEVs) in Thailand are expected to rise by an average of 200,000 baht next year, following the expiration of the government's EV3.0 incentive scheme, a move that could dampen domestic demand for BEVs, which has grown steadily over recent years, warns the Electric Vehicle Association of Thailand (EVAT).

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.