Thailand's National EV Policy Committee Gives In-Principle Approval to Tiered EV Excise Tax Scheme

Recently, Thailand’s National Electric Vehicle Policy Committee has given in-principle approval to a tiered excise tax rate scheme for electric vehicles. The plan introduces a three-tier excise tax structure: domestically manufactured electric vehicles will be subject to the lowest tax rate, fully imported electric models will face the highest rate, and vehicles partially using imported components will be taxed at an intermediate rate. Specific rates for each category have not yet been determined. The proposal will be submitted to the Thai Cabinet for approval. Thailand’s automotive industry accounts for approximately 3% of the country’s GDP and employs over 500,000 workers.