Mr. Poonphong Naiyanaphakorn, the Director of the Trade Policy and Strategy Office, revealed to the public on November 16th, 2023, that the trend of using electric vehicles globally is increasing.
The International Energy Agency (IEA) has surmised the total sale of EVs would increase from 10 million units in 2022 to 14 million units by the end of 2023 which is a 35% growth.
China had the most EVs sold in the world in 2022, 5.9 million units which is 58% of the EVs sold worldwide.
According to the statistics from the Thai Department of Land Transport, battery electric vehicle (BEV) registration from January to September 2023 was at 66,919 units which was a 300% growth compared to last year.
The Thai government and private sector accorded importance to policies and measures to promote electric vehicles. They further aimed to increase the Zero Emission Vehicle (ZEV) production rate by 30% of all automotive production by 2030.
Additionally, the Electric Vehicle Association of Thailand approved measures to support the use of electric vehicles. In 2024-2027, it was reported that the Thai government will reduce import duty by no more than 40% for EVs with a price not exceeding 2 million baht and reduce excise tax rates from 8% to 2% for EVs with a price not exceeding 7 million baht.
Electric vehicle buyers will also receive a subsidy not exceeding 100,000 baht according to the type of vehicle and the size of the battery.
Furthermore, the public and private sectors aimed to expand EV charging stations to 150 stations across Thailand by 2023.