Connect with us

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.

Boris Sullivan

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.

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 

Continue Reading
Advertisement Load WordPress Sites in as fast as 37ms!
Comments

Business

Ministry of Commerce pushes for exports to offset trade war aftermath

The Board of Trade of Thailand’s Chairman has proposed temporary border trading points be upgraded to permanent ones and more centers for the distribution of SME goods be opened

National News Bureau of Thailand

Published

on

BANGKOK, 12th August 2019 (NNT) – The Board of Trade of Thailand is working with the Ministry of Commerce to add value to the wide range of Thai goods for export, in reaction to the trade war between the United States and China.

(more…)
Continue Reading

Business

Fruit farmers coping with oversupply and price slumps

Thai Government vows to help fruit farmers, following the problem of product oversupply and price slumps, the Ministry of Commerce said.

National News Bureau of Thailand

Published

on

BANGKOK, August 2019 (NNT) – To help fruit farmers, following the problem of product oversupply and price slumps, the Ministry of Commerce has recently used Section 44, of the interim constitution, to engage government and private agencies in assisting them in terms of marketing to help sell the produce, including mangosteens, Lansium demesticum, rambutans, longans and other seasonal fruit.

(more…)
Continue Reading

Business

Thailand’s Drought disaster estimated 10bn baht ($326M)

The overall damage is expected to escalate to 37 billion baht should the drought extends to September, as the wet season rice cultivation cycle would be affected; that would lower expected Thai economic growth to 2.9 percent from 3 percent.

National News Bureau of Thailand

Published

on

BANGKOK, 3rd August 2019 (NNT) – The latest estimate from the University of Thai Chambers of Commerce (UTCC) shows the drought disaster this year has affected some 1,330 square kilometers of farmland, most of which is rice farms, with initial damage estimated at about 10 billion baht.

(more…)
Continue Reading

Most Read

Upcoming Events

Sep 19

ASEAN (Bangkok)Toys and Preschool Expo

September 19 @ 10:00 am - September 21 @ 7:00 pm BMT
Oct 16

GovInsider Live

October 16 - October 17
Nov 27

The Future Energy Show Thailand

November 27 @ 10:00 am - November 28 @ 5:30 pm BMT
Dec 05

The Healthcare+ Expo Taiwan

December 5 @ 9:00 am - December 8 @ 5:30 pm BMT

Press Release

Subscribe via Email

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

Join 11,077 other subscribers

Trending