Contemporary Amperex Technology Co Ltd (CATL), the world's largest EV battery supplier, SVOLT, a sister company of Great Wall Motors (GWM); and BYD are reportedly in talks with the Thai Government about potential investments to drive Thailand’s fledgling EV industry forward.
According to Mr Anucha, the Thai Prime Minister, Prayut Chan-o-cha intends to see Thailand become an ASEAN hub for EV production. Thailand plans to do this via the current investment promotion initiatives, and more policies (yet detailed) to lure more global EV companies to the land of smiles.
Currently, the Thai Government offers an exemption of import duties on significant electrical parts (between 2022 and 2025) – including batteries, traction motors, compressors for battery EVs, battery management systems, drive control units and reduction gear systems.
More recently, the Government also lowered the excise tax on EV batteries from 8 percent to just 1 percent. BMW, Mercedes-Benz and Toyota are among other major manufacturers that are already producing xEV batteries for the Thailand market.
Arvind can't remember a time when he didn't wheel around a HotWheels car. This love evolved into an interest in Tamiya and RC cars and finally the real deal 1:1 scale stuff. Passion finally lead to formal training in Mechanical Engineering. Instead of the bigger picture, he obsesses with the final drive ratio and spring rates of cars and spends the weekends wondering why a Perodua Myvi is so fast.