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Four major Japanese automotive companies are set to invest in manufacturing electric vehicles in Thailand, reinforcing Thailand’s potential as a significant automotive industry producer and highlighting the government’s success in supporting investment policies.
Tax Rules: Under the new regulation signed on Dec. 8 and released this week, companies that have invested in EV plants, are planning to increase their EV investments, or planning to invest would be eligible for the incentives. The new rules will remove the import duties and the luxury-goods sales tax on the built-up vehicles brought into the country and gives incentives on taxes collected by provincial governments.
The report, released Friday, analyzes the costs to governments of recent deals struck to locate EV battery manufacturing facilities in Canada.