Thailand to increase tax on EV imports, official says (updated)

TOYOTA MOTOR

10/09/2026 11:18

Adds background and official comment
BANGKOK, Sept 10 (Reuters) - Thailand's electric vehicle board has agreed to increase excise tax on EV imports to promote investment in domestic auto manufacturing, a finance official said on Thursday.
     
Fully imported vehicles (CBUs) will face the highest tax rate, above the current 10% excise tax, Pornchai Thiraveja said. 
A lower tax rate will apply to vehicles imported for testing purposes and to those imported for local assembly or production, according to Pornchai. 
Vehicles manufactured in Thailand with the use of local content will be subject to the lowest tax rate, he said.
A grace period will give automakers time to adapt to the new tax regime, but its duration has yet to be determined. 
A tax rate would be decided by the end of the month, Finance Ministry Permanent Secretary Lavaron Sangsnit said.
Electric and hybrid vehicles accounted for 55% of new cars in the first seven months of 2026, making it the first time combined registrations of EVs, hybrid, and plug-in hybrid vehicles outpaced those of internal combustion engine vehicles, according to the Board of Investment.
“The transition of Thailand’s automotive sector must convert rapid consumer demand into long-term capital formation, localised technology, and quality employment,” Narit Therdsteerasukdi, head of the BOI, said. 
Cumulative BOI approvals in the electric vehicle ecosystem reached $4.59 billion across 189 projects as of August 2026.
Thailand is a major regional production and export hub for car manufacturers, such as BYD 002594.SZ and Toyota Motor 7203.T. 
     

 (Reporting by Kitiphong Thaichareon, Orathai Sriring and Chayut Setboonsarng, Editing by Alex Richardson and Tomasz Janowski)
 ((chayut.setboonsarng@thomsonreuters.com ; +66854849033))