Posted on 09 May 2022
Several automakers including Toyota, Great Wall Motor and SAIC have joined the incentive plan launched by the Thai government to encourage the adoption of electric vehicles in the region.
According to the agreements, through incentives such as tax cuts and subsidies, the Thai government will help automakers lower the local EV selling prices, Kallanish learns from the National News Bureau of Thailand.
Thailand's Ministry of Finance says: "Great Wall Motor and SAIC's Thai unit SAIC-CP Motor have also signed similar agreements. We expect at least another five automakers to join this EV supporting plan."
Arkom Termpittayapaisith, finance minister of Thailand, says: "There will be 'a leap' for the use of EVs in the country as consumers were waiting for major carmakers to join this scheme."
He adds: "Thailand will continue to introduce measures to support EVs to maintain its status as Southeast Asia’s biggest and the world’s 11th largest auto production base. The government is targeting the production of 725,000 EV units a year, or 30% of the output by 2030."
Noriaki Yamashita, president of Toyota Thailand, says: "Toyota is considering launching the bZ4X EV model in Thailand later this year."
In February, Great Wall Motor mentioned that it will start producing battery electric vehicles in Thailand from 2024. It intends to invest about THB 22.6 billion ($657.03 million) for this plan to turn Thailand one of its EV R&D and production centres.
Source:Kallanish
