Thailand adjusts EV policies to prevent potential price wars, oversupply
The Thai Cabinet has approved adjustments to the country’s electric vehicle promotion schemes, specifically the EV3 and EV3.5 measures.
Workers prepare an Ora Good Cat new electric vehicle in Rayong, Thailand. The country’s first domestically made EV car, built under the Chinese auto brand Great Wall Motor, officially rolled off the production line on Jan 12, 2024. Photo courtesy of China Daily.
The move aims to enhance flexibility for manufacturers while safeguarding the domestic market against oversupply and potential price wars.
Lalida Praditwiwatana, Deputy Government Spokesperson, reaffirmed Thailand’s strategic goal of becoming a major global production hub for electric vehicles and parts.
The Thai government continues to drive towards the Zero Emission Vehicle (ZEV) target by 2030 through systematic economic measures balanced with domestic market stability.
One of the primary adjustments involves extending the timeframe for vehicle registration. Under the updated EV3 measures, vehicles must be sold by December 31, 2025, with the registration deadline extended to January 31, 2026.
Similarly, for the EV3.5 measures, the sales deadline is set for December 31, 2027, allowing for registration until January 31, 2028.
Additionally, the Cabinet approved significant changes to production compensation calculations. Exported EVs will now count as 1.5 times towards production compensation requirements, with the export deadline extended to June 30 of the following year.
To ensure fiscal responsibility, the government is implementing stricter controls on subsidy payments. The new criteria include rigorous monitoring of compensation production plans. Authorities will temporarily suspend subsidies if manufacturers fail to meet the specified conditions.
Furthermore, to maintain a stable production base within Thailand, the measures now allow for cross-measure production expansion. Manufacturers originally granted rights under the EV3 scheme can now expand their compensation production under the EV3.5 framework.
Regarding critical components, the Cabinet approved an extension for calculating the value of imported battery cells until June 30, 2026. However, to accelerate the utilisation of domestic parts, the proportion of imported battery value must not exceed 10% of the vehicle’s price.
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