Thailand approves incentives to promote EV shift By Reuters

© Reuters. FILE PHOTO: A BMW M plug-in hybrid electric vehicle is seen during the media day of the 41st Bangkok International Motor Show after the Thai government eased measures to prevent the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand July 14

BANGKOK (Reuters) – Thailand’s cabinet on Tuesday approved a package of incentives including tax cuts and subsidies to promote a shift to electric vehicles in Southeast Asia’s major auto production base, a government official told Reuters.

The package will help reduce the price of electric cars by 70,000 baht ($ 2,165) to 150,000 baht ($ 4,638) each, according to local media reports. The government will hold a briefing later on Tuesday.

($ 1 = 32.34 baht)

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