Electric Vehicle Asia 2023

Thailand’s 24-billion-baht subsidy to EV battery Manufacturers

Thailand has attracted interest from some of the world's largest battery manufacturers to invest in building EV battery factories in the country. This is due to various factors including the government target for EV production - the 30@30 policy or 30% production by 2030 - and the issue of measures to promote Demand-Supply continually making investors more confident.

Thailand's 24-bilion-baht subsidy to EV battery Manufacturers

Recently, National Electric Vehicle Policy Committee, commonly referred to as the EV board, agreed to reduce the excise tax on EV batteries from 8% to just 1%, a major development for the industry. The board has also decided to offer a 24-billion-baht subsidy to the EV battery production sector. Producers of EV batteries with a capacity of less than 8 gigawatt hours (GWh) will receive a subsidy ranging from 400 baht to 600 baht per kilowatt hour (kWh), while those producing EV batteries with more than 8 GWh will receive between 600 baht and 800 baht per kWh.

Thailand is the leading EV hub of the region and best known as the land of opportunities for manufacturers of EV technologies, batteries, equipment, chargers, infrastructures, and other related products. Electric Vehicles Asia 2023 will present a top business opportunity to do business and network with suppliers, investors, car makers and policy makers from both private and public sectors across ASEAN. The show will be from 30 August – 1 September 2023 at Queen Sirikit National Convention Center (QSNCC), Bangkok. Don’t miss out on the opportunity, why not do it now!