Reported about 16 hours ago
Thailand's Board of Investment has announced an extension of the production timeline for battery electric vehicles (BEVs) and new incentives for hybrid EVs as part of efforts to support the struggling auto industry in Southeast Asia. The initiative aims to navigate challenges like a stagnant domestic market and economic uncertainties, by increasing local production requirements for EVs and introducing a reduced excise tax for certain hybrids. Despite the complex market conditions, including a significant drop in local sales and production, the country continues to attract foreign investments in its automotive sector.
Source: YAHOO