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Thailand charts EV road map with investment incentives

Program targets Chinese makers, with 30% output goal in 2030

Chinese carmakers, such as SAIC Motor, have moved more aggressively into Thailand's EV market in recent years. (Photo by Yohei Muramatsu)

BANGKOK -- Thailand has rolled out a package of incentives to promote the manufacturing of electric vehicles, as the country known as "the Detroit of Southeast Asia" seeks to lure younger Chinese companies with new-energy technologies. 

Under the program, business segments undertaking 5 billion baht ($165 million) or larger electric vehicle projects will be exempt from corporate taxes for eight years. Four types of core parts are also eligible, including reduction gears and regenerative braking systems.

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