# Thailand approves second phase of EV subsidies for 2024 to 2027

- Link: https://www.thailand-business-news.com/business/122340-thailand-approves-second-phase-of-ev-subsidies-for-2024-to-2027
- Published: 2024-01-16T11:14:40+07:00
- Author: SiamNews PR

Thailand aims to produce Zero Emission Vehicles (ZEVs) to account for at least 30%
of the total motor vehicle production by the year 2030, which would amount to 725,000
cars and 675,000 motorcycles.

The EV Board has approved the second phase of EV Package, known as EV 3.5, for 4
years (2024-2027) to promote EV industry’s continuous growth and to facilitate investment
opportunities in EV manufacturing in Thailand for new players. The package aims 
to support investment covering the entire EV industry ecosystem. Companies who have
already participated in EV 3 are eligible to apply these measures complying with
the conditions and regulations.

ADVERTISEMENT

As part of the EV 3.5 package, the government will provide subsidies for the purchase
of electric cars, electric pickup trucks, and electric motorcycles based on the 
vehicle types and battery capacities. The subsidies will be provided in range as
follows:

 * For electric passenger cars priced not exceeding $58,000 USD, with battery capacity
   not less than 50 kWh will be subsidized in range between $1,450- $2,900 USD per
   unit. And those with battery capacity less than 50 kWh will be subsidized $580–
   $1,450 USD per unit.
 * For electric pickup trucks priced not exceeding $58,000 USD, with battery capacity
   not less than 50 kWh will be subsidized in range between $1,450 – $2,900 USD 
   per unit.
 * For electric motorcycles cars priced not exceeding $4,350 USD, with battery capacity
   not less than 3 kWh will be subsidized in range between $145 – $290 USD per unit.

The relevant agencies will discuss further to stipulate the subsidy rate as appropriate
and propose to the cabinet’s approval.

As part of the EV 3.5 package, those electrical passenger cars priced not exceeding
$200,000 USD will be incentivized with the reduction of excise tax from 8% to 2%.
While electrical passenger cars priced not exceeding $58,000 USD, importing EVs 
as Completely Built-Up Units (CBUs) during the first two years (2024-2025) will 
benefit additionally a reduction in import duties up to 40%.

### Related**Posts**

###  󠀁[Delta Thailand Q3 Sales Surge 42.4% on AI Demand, Profit Misses Estimates](https://www.thailand-business-news.com/business/336934-delta-thailand-q3-sales-surge-42-4-on-ai-demand-profit-misses-estimates)󠁿

###  󠀁[Oil Prices Surge on Saudi Attacks, Raising Risks for Thailand’s Recovery](https://www.thailand-business-news.com/business/335915-oil-prices-surge-on-saudi-attacks-raising-risks-for-thailands-recovery)󠁿

###  󠀁[Thailand Business News — Wednesday, 21 October 2026 | Thailand, ASEAN & Global Markets](https://www.thailand-business-news.com/business/335618-thailand-business-news-wednesday-21-october-2026-thailand-asean-global-markets)󠁿

###  󠀁[Thailand’s Floods Expose Severe Vulnerabilities in Its Automotive Supply Chain](https://www.thailand-business-news.com/business/332669-floods-in-thailand-highlight-the-vulnerability-of-the-countrys-automotive-supply-chain)󠁿

Those companies applying to this package will be contingent on the condition of 
EV production offset domestically for CBUs imported at 1:2 ratio by 2026 and 1:3
by 2027. Both imported and domestically manufactured electric cars, the batteries
must acquire the Industrial Product Standards (TIS) and pass testing based on international
standards at the Automotive and Tire Testing National Center (ATTRIC).

In addition, the Board has approved an extension deadline for EV registration under
EV 3 package from December 31, 2023, to January 31, 2024 in order to enable consumers
planning to purchase EVs at the Thailand International Motor Expo and to complete
the registration process.

In the first phase of the Electric Vehicle supporting program or EV 3 started from
2022, a total of 15 companies have participated, including electric passenger cars,
electric pickup trucks, and electric motorcycles.

The program has effectively invigorated the growth of the electric vehicle industry
in Thailand. The first nine months of the program (January- September 2023) recorded
new EV registrations for 50,340 units, marking 7.6 times higher compared to the 
same period last year.

Thailand’s continuous EV promotion package since 2017 have resulted in investment
in the EV industry worth $1.8 billion USD in manufacturing battery electric vehicles(
BEVs), battery electric motorcycles, EV’s parts and components, and charging stations.