BANGKOK (Reuters) – Thailand’s electric vehicle board on Wednesday approved a new subsidy package to support sales of electric vehicles, according to the chairman of the Federation of Thai Industries.
The new package includes a lower subsidy compared to the current scheme, which is set to end this year, as stated by Kriengkrai Theinnukul during a press briefing. Thailand has experienced robust sales of electric vehicles this year, with approximately 50% of all electric vehicle sales in Southeast Asia occurring in the country during the second quarter.
The decision to introduce a new subsidy package reflects Thailand’s commitment to promoting the adoption of electric vehicles and transitioning towards a greener transportation sector. With rising concerns about carbon emissions, the global automotive industry has been focusing on electric mobility as a sustainable solution.
Apart from the subsidy, the Thai government has also implemented various measures to support the growth of electric vehicles. These include the development of charging infrastructure, tax incentives, and educational initiatives to create awareness and encourage consumers to choose electric vehicles over conventional petrol-powered cars.
The Federation of Thai Industries, as a representative body for the country’s automotive industry, has been actively working with the government and private sector to drive the development of the electric vehicle market. This collaboration has resulted in significant progress, positioning Thailand as a leading player in the regional electric vehicle market.
Thailand’s strong commitment to electric vehicles aligns with the global trend towards sustainable transportation and cleaner energy sources. Governments around the world are providing incentives and setting targets to reduce reliance on fossil fuels and mitigate the impact of climate change.
As the demand for electric vehicles continues to grow, it is expected that the Thai government will further enhance its policies and support mechanisms to ensure the sustainable growth of the electric vehicle industry.
With the introduction of the new subsidy package, Thailand aims to sustain its position as Southeast Asia’s hub for electric vehicles and contribute to the region’s efforts in achieving a greener and more sustainable future.
This latest development is expected to further boost electric vehicle sales in Thailand and drive economic growth in the sector, while also reducing carbon emissions and promoting a cleaner environment for all.
(Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Martin Petty)
