Thailand to offer investment perks for makers of hybrid vehicles
By REUTERS | 26 July 2024![](https://da4dkroembtou.cloudfront.net/wp-content/uploads/2024/07/17431394.jpg)
BANGKOK: Regional auto making hub Thailand will introduce investment incentives for manufacturers of hybrid vehicles, its Board of Investment (BOI) said today, with excise taxes for hybrids to be lowered from 2028 to 2032.
Thailand has for decades been a regional centre for auto production and an export base for some of the world's top carmakers, including Toyota and Honda.
Recent investments from Chinese electric vehicle makers like BYD and Great Wall Motor has shaken up the industry and Thailand has been active in offering incentives to court more firms.
"This is an important technology in the transition to electric vehicles," BOI secretary-general Narit Therdsteerasukdi said of hybrid models.
"Thailand has the capacity to be a key producer of hybrid vehicles ... and supporting hybrid production will preserve auto parts manufacturing," he said, adding the measures are expected to draw in 50 billion baht (RM6.5bil) worth of investments.
Excise taxes will be lowered in five years for hybrid vehicle makers that invest at least 3 billion baht (RM388mil) in the next four years and include the use of local parts, the BOI said.
Vehicles will also need to have advanced driver-assistance systems to qualify.
Seven automakers are currently receiving benefits from incentives offered by the BOI, Narit said, with four of them from Japan and three from China
Tags
Autos News
Reviews
![](https://da4dkroembtou.cloudfront.net/wp-content/uploads/2024/09/BMW_R1300GS_Trophy_A1-300x210.jpeg)
8.2
BMW R 1300 GS Trophy: Power and control
![](https://da4dkroembtou.cloudfront.net/wp-content/uploads/2024/09/GWM-Ora-07-26-300x200.jpg)
8.8
GWM Ora 07 (Long Range Ultra): Impressively luxurious, refin...
![](https://da4dkroembtou.cloudfront.net/wp-content/uploads/2024/08/RE_Himalayan_1-300x199.jpg)
6.2
Royal Enfield Himalayan 450: A multi-terrain adventurer
![](https://da4dkroembtou.cloudfront.net/wp-content/uploads/2024/08/Chery-Tiggo-7-Pro-1-300x200.jpg)
8.2
Chery Tiggo 7 Pro: Powerful, premium specs, impressive value
![](https://da4dkroembtou.cloudfront.net/wp-content/uploads/2024/08/Honda_City_Hatchback_2024_A-300x200.jpeg)
Honda City Hatchback e:HEV RS facelift: A delightful pursuit
![](https://da4dkroembtou.cloudfront.net/wp-content/uploads/2024/08/smart-1-Brabus_June2024-19-300x188.jpg)
7.6
Smart #1 Brabus: Pragmatic achiever
![](https://da4dkroembtou.cloudfront.net/wp-content/uploads/2024/08/BFGoodrich_KO3_A-300x200.jpeg)
BFGoodrich KO3: Playing rough and tough
![](https://da4dkroembtou.cloudfront.net/wp-content/uploads/2024/08/Range_Rover_Evoque_1-300x185.jpeg)
8.2
Range Rover Evoque: Bringing up baby
Videos
![](https://i.ytimg.com/vi/PzA3GasBQP0/mqdefault.jpg)
Suzuki Jimny 5-door enters Malaysia
![](https://i.ytimg.com/vi/DIyNRZd2Q6g/mqdefault.jpg)
Hennessey Venom F5 Stealth Series
![](https://i.ytimg.com/vi/ywc8Jqan5n8/mqdefault.jpg)
BMW & DeepDrive Test In-wheel Dual Rotor Electric Motor
![](https://i.ytimg.com/vi/4G0O6mCzsa8/mqdefault.jpg)