Thailand intends to invest 34 billion baht in establishing itself as a key production hub for electric vehicles (EVs). By 2030, the country aims to have 30% of its car output as electric vehicles.
To attract foreign EV manufacturers and achieve carbon neutrality by 2050, the government plans to offer incentives such as reduced import duties and lower excise tax rates to companies that manufacture EVs locally in Thailand by 2027. The program is anticipated to benefit 830,000 EVs in the next four years.
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