Thailand plans to introduce a new purchase subsidy scheme called EV3.5 from 2024 to 2027. This scheme aims to attract foreign investment and position Thailand as a hub for electric vehicle (EV) manufacturing in Southeast Asia. The subsidies will offer up to 100,000 baht per car to support the growing demand for EVs in the country.
China is currently leading the EV market in Thailand, with major Chinese brands already established and new investments from European makers being encouraged. The Thai government aims to have EVs account for 30% of vehicles sold by 2030 and has plans to reduce import duties and excise taxes to further support the EV industry.
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