Mercedes-Benz joins Thailand’s electric vehicle (EV) subsidy program

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Mercedes-Benz Manufacturing (Thailand) Co Ltd, the German automaker’s Thai assembly plant, will sign a memorandum of understanding with the Excise Department regarding government incentives for the production of electric vehicles, according to Ekniti. The incentive program will need to reduce the price of electric vehicles (EVs) so that they can compete more effectively with gasoline-powered automobiles and motorcycles. If an electric vehicle costs less than 2 million baht, the manufacturer may be eligible for up to 150,000 baht in subsidies and reductions in import duties; if the vehicle costs more than 2 million baht, the manufacturer may be eligible for between 700,000 and 800,000 baht in subsidies and reductions in import duties. Automobile manufacturers are required to establish cooperation agreements with the Excise Department in order to participate in the program. As a result of the agreements, automakers are required to produce the same number of electric vehicles in Thailand as they do in other countries. MG, GWM, Toyota, a Japanese automobile manufacturer, and Mine Mobility, a Thai manufacturer of electric vehicles, are among the companies that have already signed contracts of this nature. Three more manufacturers of electric motorcycles have signed agreements, bringing the total to five. Thai Honda, Deco Green, and Zero Motorcycles are among these.

Ekniti Nitithanprapas, director-general of the Excise Department, announced on Friday that Mercedes-Benz will participate in a government-sponsored program to promote the production of electric vehicles (EVs) in Thailand. When Mercedes-Benz participates in the project, it will be the eleventh automaker to do so.