BANGKOK, Feb 18 (TNA) – Many car manufacturers are interested in lowering the prices of their electric vehicles due to tax incentives and subsidies from the government, according to the chief of the Excise Department.
Lavaron Sangsnit, director-general of the department, said the expected price discounts would result from the government’s measures to encourage people to shift to electric vehicles. The government planned to spend 43 billion baht to implement the measures in four years.
According to the director-general, the government will offer subsidies worth 70,000-150,000 baht per electronic car and 18,000 baht per electric motorcycle. The government also has tax incentives for automobile manufacturers to invite them to join its project to lower EVs’ prices to stimulate the use of EVs.
Participating manufacturers will be required to set up EV production lines in three years. The number of their locally produced EVs must equal the number of their imported EVs in the first year and then increase to 1.5 times as much as the number of the EVs they import in the first two years of the project implementation. (TNA)
