BoI accelerates granting of investment privileges to electric-vehicle sectors

August 20, 2020

The Board of Investment (BoI) is looking into granting investment privileges for electric motorcycle and tricycle sectors to increasingly promote the manufacturing and use of electric vehicles in the country.

“We have promoted investment in the electric vehicle industry since 2017, but it covers only four-wheel vehicles and buses,” BoI secretary-general Duangjai Asawachintachit said. “The board is currently preparing details and criteria for promotional privileges to be offered to entrepreneurs of electric motorcycles and tricycles, which are becoming increasingly popular in the domestic market.”

Duangjai said that so far the BoI has approved 26 projects to do with manufacturing of electric vehicles.

These consist of:

> Five hybrid electric vehicle projects, with an investment value of Bt50.3 billion and manufacturing capacity of 352,500 units/year.

> Six plugin hybrid electric vehicle projects, with an investment value of Bt11.4 billion and capacity to produce 87,240 units per year.

> Thirteen battery electric vehicle projects, with an investment value of Bt15.6 billion and capacity to produce 125,140 units per year.

> Two electric bus projects, with an investment value of Bt665 million and manufacturing capacity of 1,600 units per year.

“The BoI also approved 14 projects for manufacturing electric vehicle parts and facilities, including battery and charging stations, with a combined investment value of Bt10.8 billion,” she added.

Source: The Nation