Bangkok: The Excise Department joins hands with three electric vehicle companies, Chang'an SAIC and Great Wall Motor, to promote EV3.5 electric vehicles, expecting to import 175,000 electric vehicles in 2024-25. Dr. Ekniti Nitithanprapas Director-General of the Excise Department said that after the Cabinet approved measures to support the use of EV3.5 electric vehicles in the period 2024-2027 to promote the electric vehicle and key parts industry in Thailand, the Excise Department has signed an agreement to receive rights. According to measures to support the use of electric vehicles, Phase 2 or EV 3.5, with 3 companies consisting of Chang'an Auto Sales (Thailand) Co., Ltd., SAIC Motor-CP Co., Ltd. and Great Wall Motor Manufacture Co., Ltd. Gering (Thailand) Co., Ltd. Aiming to transform the entire automotive industry into the electric vehicle industry. and push Thailand to be a production base for electric vehicles in the region according to the 30@30 policy, setting a goal of producing vehicles that emit zero emissions (Zero Emission Vehicle: ZEV) at least 30% in 2030. (2030 AD) and there are still many companies in the process of signing rights agreements. For the company Participating in the EV 3.5 measure will receive support from the Excise Department as follows: 1. Passenger cars (price not exceeding 2 million baht) will receive the following benefits: 1.1 Subsidy rights 1) Battery size starting from 10 kWh but not exceeding 50 kWh 1.1) Year 2024 will receive a subsidy of 50,000 baht/car. 1.2) Year 2025 will receive a subsidy of 35,000 baht/car. 1.3) Year 2026 - 2027 will receive a subsidy of 25,000 baht/car. 2) Battery size from 50 kWh and up. 2.1) Year 2024 will receive a subsidy of 100,000 baht/car. 2.2) Year 2025 will receive a subsidy of 75,000 baht/car. 2.3) Year 2026 - 2027 will receive a subsidy of 50,000 baht/car. 1.2 The right to reduce the import duty rate not exceeding 40 percent (for cars with a price not exceeding 2 million baht that are imported during 2024 - 2025) 1.3 The rig ht to reduce excise tax from 8 percent to 2 percent in 2024 - 2027. 2. Passenger cars (priced from 2 million baht but not more than 7 million baht) with a battery size of 50 kWh or more will be entitled to a reduction in excise tax from 8 percent to 2 percent. 3. Pickup trucks (only those produced within the country and price not exceeding 2 million baht) with a battery size of 50 kWh or more will receive a subsidy of 100,000 baht/vehicle and will be entitled to an excise tax rate of 0 percent in 2024 - 2025 and a tax rate of 2 percent in 2026 - 2570 4. Motorcycle (Only those produced within the country and price not exceeding 150,000 baht) with a battery size of 3 kWh or more will receive a subsidy of 10,000 baht/vehicle and will be entitled to an excise tax rate of 1 percent in 2024 - 2027. and to promote investment in the country The Excise Department has set conditions for participants in the EV 3.5 measure to produce cars to compensate for imports within 2026 at a ratio of 1 : 2 of the imported amoun t during 2024 - 2025 (import 1 car, compensatory production of 2 cars) and Produce to compensate for imports within 2027 at a ratio of 1 : 3 (import 1 car, produce to compensate 3 cars) It is expected that the import of electric cars from the EV 3.5 measure will be approximately 175,000 cars in 2024-2025, resulting in domestic production of approximately 350,000 - 525,000 cars by 2027, with the estimated total subsidy in the EV 3.5 measure at 34,060 million. baht The EV 3.5 measure this time will help promote and build competitiveness along with creating opportunities to transform the entire automotive industry into the electric vehicle industry. For those who want additional details, you can contact the Excise Department. or every area excise office nationwide or at www.excise.go.th Source: Thai News Agency