Thailand’s EV Panel Approves Tax Cut, Subsidy on Batteries

A Thai policy panel has approved tax cut and subsidy to attract foreign battery makers to set up local production facilities, according to Deputy Prime Minister Supattanapong Punmeechaow.

• Thailand plans to cut excise tax on EV batteries to 1% from 8%, Supattanapong says in a statement on Thursday after chairing a meeting of the country’s EV policy committee
• The meeting also approved a 24 billion baht subsidy scheme to support local production of battery cells, a key component of EV batteries
• Due to limited budget, the subsidy will be given to investors on a first-come first-serve basis, according to ...