BoI seeks approval for another two carmakers to produce EVs in Thailand

Economy July 23, 2018 17:16

By The Nation

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The Board of Investment or BoI will propose that its board approve tax incentives for two auto firms to produce electric vehicles (EVs) with a combined investment value of up to Bt10 billion, at this Wednesday’s meeting chaired by Prime Minister Prayut Chan-o-cha.

In making the announcement on Monday, BoI secretary-general Duangjai Asawachintachit said Honda would be one of the two carmakers to benefit.

The BoI has previously approved proposals from three auto firms – Toyota, BMW and Mercedes-Benz – to produce EVs in the Kingdom.

The agency will also propose that five firms applying for incentives to produce batteries for EVs are also approved at the meeting, she said.