The BOI has approved 14 projects by 13 companies, representing an annual production capacity of 276,640 EVs as of May 31.
"We need to strengthen the whole ecosystem of EVs."
"We realise that if we would like to be the EV hub of the region, we cannot only build the car assembly industry," said Thailand's Board of Investment Secretary General Narit Therdsteerasukdi, who has travelled multiple times to China in recent months. These include lower tariffs on imports on the condition of subsequent local assembly and some tax breaks for EV manufacturing. Thailand's pitch to Chinese EV makers has been its existing supply base – built largely for Japanese automakers – and readiness to provide incentives. It has also signalled an electric pickup truck is coming, but Goldman Sachs said in a note last month that "there is a growing need for them to consider other product segment expansion."īy 2030, Thailand aims to convert around 30% of its annual production of 2.5 million vehicles into EVs with ambitions to become the main regional production hub, for which it is aggressively pursuing investment. Toyota said it has taken 3,356 bookings so far for the electric bZ4X, which it began selling in Thailand last year. Toyota, which alongside its group companies has invested nearly $7 billion in Thailand over the last decade and employs some 275,000 people, told Reuters in a statement that it is considering EV production in the country - its first official confirmation. "The Japanese are only able to target some of the premium segments," Yamamoto said. Hajime Yamamoto, a principal at Nomura Research Institute's consulting division in Thailand, said Chinese brands could take at least 15 percentage points of share from Japan over the next decade by delivering affordable EVs. Only 11 newly registered EVs this year came from Toyota (7203.T), Thailand's dominant brand that along with its partner Isuzu (7202.T) and Honda (7267.T) accounted for almost 70% of overall car and truck sales last year in Thailand.
#JAPAN USED VEHICLES REGISTRATION#
automaker Tesla (TSLA.O), according to registration data showing 18,481 EVs sold between January and April. But between January and April this year, that proportion rose to more than 6%.īYD is now the market leader, followed by China's SAIC (600104.SS) and Hozon and U.S. Of the nearly 850,000 new cars registered in Thailand last year, only around 1% were EVs, according to government data. "I'll never go back to a combustion-engine car again," said the 55-year-old teacher, who also drives part-time for a ride-hailing service. Hereunder is the estimated computation of the taxes payable for the Motor Vehicle using G$206.Bangkok resident Pasit Chantharojwong drove a Toyota Corolla for a decade and a half before switching to Great Wall's Ora Good Cat this year. Less duties base on CNF cost for vehicles under 4 year (2019-2023)ĭuty and Taxes for vehicles under 4 years are based on the CNF cost and engine size (the higher the CNF cost the more duties paid/ the lower the CNF cost the less duties paid).ĭepending on the engine size and vehicle total Cost and Freight (CNF) you might pay less Total Tax Payable.Ĭars, vans, buses, pickups and SUVs 4 years and under with an engine capacity of 1500 cc or less will be deemed as NEW by the Guyana Revenue Authority and will NOT attract Excise Tax.ġ) Manufacturing year must be under 4 years (2019 or newer, for this year 2023 arrivals at Guyana)Ģ) Duty and taxes are also based on the engine size.ģ) Duty and taxes under 4 years are the same for both Petrol and Diesel engines.Ĥ) Duty and tax for under 4 years are calculated by percentages of the CNF cost, this is why you may pay less duties. Basic Policy Against Anti-Social Forces.
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