Connect with us
intralinks

Business

Thai Governement approves Measures to spur EV production 

The Thai military cabinet is steering towards a set of measures to promote electric vehicle (EV) production in Thailand.

Published

on

The Thai military cabinet is steering towards a set of measures to promote electric vehicle (EV) production in Thailand.

While the Customs Department, the Ministry of Commerce and the Ministry of Industry are in discussions to amend commitments under the Asean-China free trade agreement (ACFTA) to pave way for imports of EV parts to Thailand.

According to Nattaporn Jatusripitak, an adviser to the Office of Prime Minister, the Cabinet approved the measures to support EV production yesterday. Such measures span from Board of Investment (BOI)’s investment promotional privileges for EVs, parts and equipment to Ministry of Finance (MOF)’s excise-tax cuts.

Earlier, the BOI granted privileges for Toyota Motor Thailand to produce 70,000 hybrid electric vehicles, 70,000 batteries for EVs and 9.1 million parts annually.

The MOF has slashed excise taxes for plug-in hybrid electric vehicles to half its normal rate and battery electric vehicles to 2 per cent.

Application for investment in EVs, parts and equipment in the Eastern Economic Corridor must be made by the end of next year (2018). In regard to other planned measures to promote EV production, the MOF is drafting its ministerial announcement to waive duty on EVs and Customs Department’s notification on customs procedures.

On another front, both Ministry of Commerce and Ministry of Industry have discussed amendments to the commitments under ACFTA to allow EV part imports for EV production in Thailand.

Loading...

The Budget Bureau is looking at battery electric vehicles made by Nissan, Tesla and FOMM and will consider purchasing them for use by officials of state agencies.

Meanwhile, the Ministry of Energy is requesting a budget from Energy Conservation Fund for the year 2018 for a feasibility study on using EVs as taxi and tuk tuk (three-wheeled taxi).

As for EV infrastructure, Ministry of Energy, Ministry of Transport and Metropolitan Electricity Authority are gathering information on already-established charging stations and planned ones in order to develop a full coverage in the future.

Source: Measures approved in drive to spur EV production 

Business

Thailand’s Consumer Confidence Hits new Record Low in May

The University of the Thai Chamber of Commerce (UTCC) has reported that Thailand’s Consumer Confidence Index (CCI) for May fell to its lowest level ever due to COVID-19 concerns.

Published

on

BANGKOK (NNT) – The University of the Thai Chamber of Commerce (UTCC) reported on Thursday that consumer confidence hit a record low in May, due to the country’s latest and biggest COVID-19 outbreak so far.

(more…)
Continue Reading

Business

Thailand Approves Latest Economic Relief Package for Businesses

Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.

Published

on

On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.

(more…)
Continue Reading
Wise

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,090 other subscribers

Recent