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Market Chatter: Thailand Reviewing 24 Billion Baht Plan to Replace Ageing Transport Vehicles

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Thailand is currently reviewing a 24 billion baht plan to replace around 80,000 ageing transport vehicles with EVs, according to a Reuters report on Thursday.

The government is also assessing whether the scheme can be extended to cover all EV purchases as part of its energy transition efforts, the report said.

Replacing standard vehicles with EVs could help the country's auto industry, with domestic vehicle sales dropping to a 15-year low in 2024, the report added.

(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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