BANGKOK -- Thailand has approved a package of financial incentives to encourage drivers and automakers to switch to electric vehicles in a bid to transform the country into a production hub for cleaner cars.
The measures for 2022 and 2023 greenlighted Tuesday by the cabinet include subsidies of between 70,000 baht and 150,000 baht ($2,200 and $4,600), depending on the model and battery capacity, according to local media. The excise tax on these vehicles will also be cut to 2% from the usual 8%.
