{
  "id": 19045464,
  "title": "Thailand to raise imported EV tax to 35% to encourage local production",
  "url": "https://urgent.news/2026/11/08/thailand-to-raise-imported-ev-tax-to-35-to-encourage-local-production",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-08T23:26:43.000Z",
  "source": {
    "name": "VnExpress Business",
    "slug": "vnexpress-business",
    "url": "https://e.vnexpress.net/news/business/economy/thailand-to-raise-imported-ev-tax-to-35-to-encourage-local-production-5141608.html"
  },
  "original_language": "en",
  "account": "Thailand plans to increase the tax on imported electric vehicles to 35% in an effort to promote local production, according to Finance Minister Ekniti Nitithanprapas. This tax hike, up from the current 15%, specifically targets completely built-up EVs imported by automakers without manufacturing facilities in Thailand. The government hopes these measures will safeguard companies that have invested in local factories and supply chains while incentivizing import-dependent brands to expedite their plans to establish production in the country. Thailand serves as a crucial regional manufacturing and export center for automakers like China's BYD and Japan's Toyota Motor. In May, industry groups expressed concerns about the industry's viability without policy adjustments, as local manufacturers grappled with competition from cheaper imports from China. Chinese automakers, particularly those already operating in Thailand, back the higher excise tax on imported electric vehicles. Sunhavut Thamchuanviriya, the group chief executive and director of Millennium Group Corporation (Asia) Public Company Limited, stated that the substantial tax increase should not come as a surprise, as rumors of the plan have circulated for some time. He added that companies already planning to assemble vehicles locally from completely knocked-down kits are anticipated to accelerate their projects once the official details are released. Those without such plans may struggle to compete in Thailand's crowded market. Leapmotor, a Thai electric vehicle manufacturer, is also contemplating local assembly as part of its long-term commitment to the country. General Manager Liam Liu emphasized Thailand's strategic importance, noting its significant potential beyond merely being a marketplace for imported vehicles during an EV boom. In the first nine months of 2023, EV registrations in Thailand surged 83% year-over-year to 191,273 units, according to the Federation of Thai Industries, citing Department of Land Transport data. The FTI projects full-year 2026 registrations to range between 200,000 and 220,000, compared to around 120,000 units in 2025. Globally, Vietnam led the electric passenger car market in 2022 with 180,077 units sold, followed by Thailand (138,000 units) and Indonesia (115,300 units), as reported in the Global EV Outlook 2026 by the IEA.",
  "summary": "Thailand’s cabinet has approved increasing excise taxes on fully imported electric vehicles from 10% to 35% starting Jan. 1, 2027, as the country seeks to attract investment and expand domestic manufacturing.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}