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Market Chatter: Thailand Proposes Higher Excise Taxes on Imported EVs

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Thailand's national electric vehicle policy board proposed higher excise taxes on imported EVs, Bloomberg News reported Thursday, citing Excise Department chief Pornchai Thiraveja.

The board agreed in principle to a three-tier structure, with the lowest rate for Thailand-made EVs and the highest for fully imported models. An intermediate rate would apply to vehicles relying partly on imported components, the news outlet said.

The exact rates are yet to be decided, and the proposal will go to the Cabinet for approval, the report said.

The measure aims to boost domestic manufacturing as low-priced Chinese EVs intensify competition and pressure Thailand's auto industry, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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