Market Chatter: Thailand Weighs 30% Excise Tax on EV Imports to Boost Local Production

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Thailand may levy an excise tax of around 30% on fully imported electric vehicles in a bid to boost local production, Bloomberg reported Tuesday, citing Finance Minister Ekniti Nitithanprapas.

In an interview with Bloomberg TV, Nitithanprapas said the Thai government is working with the auto industry to decide on the tax rates by month-end.

The move is aimed at encouraging global car manufacturers to invest more in Thailand and deepen domestic supply chains.

(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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