Headline Target: All new cars sold by 2035 will be ‘electric’.

Car Manufacturing Country: Honda, Toyota, Isuzu, Build Your Dreams, Mitsubishi.

Purchase Incentives for Cars: Individual purchase grant, reduced excise and customs tax.

Supplier Regulation Policy: EV manufacturing targets.

Infrastructure Incentives: None

Thailand’s transition is going from strength to strength with sharp increases in EV market share as well as fast becoming an EV manufacturing hub.. As a large vehicle manufacturer, Thailand has set plans to have 30% of its vehicles made in the country be ZEVs by 2030, and 50% by 2035. These targets have been backed up by exemptions in import duties for EV components, agreed up to 2035 - as well as ensuring that if a manufacturer sells an EV in the country they must commit to manufacturing two EVs within the country.

To incentivise EV sales in the country the government has subsidies and grants as well as tax incentives which can reduce the rate of import tax by up to 40%. Although a small market, it leads South East Asia for EV sales and with government backing is set to consolidate that lead.