Thailand’s Excise Department will propose that the new government provide at least 3 billion baht to subsidise electric vehicles (EV), to encourage people to switch to them to reduce greenhouse emissions, according to Natthakorn Uthensut, an advisor to the Excise Department.
The incumbent government has approved 2.9 billion baht from the Central Fund for the purpose, providing a subsidy not exceeding 150,000 baht per unit for the purchase of EVs.
He said that, so far, about 800 million baht of the 2.9 billion baht has been spent and the Excise Department is in the process of granting subsidies, estimated at about 400 million baht, to people who have bought about 3,000 EVs.
He said that the balance of the fund is expected to run out in September, while some car dealers are urging customers to make advance bookings for EVs, before the fund is depleted, not knowing whether the subsidy will be extended by the new government.
Natthakorn said, however, that the Excise Department may adjust the conditions for granting EV subsidies for the first production of EVs in Thailand, scheduled to take place in 2024.
Currently, most EVs in Thailand are imported from China, the world’s biggest exporter of such vehicles.