Thailand’s excise department says the 2.9 billion baht subsidy that has been allocated to promote the usage of electric vehicles is set to run out in September, and it is planning to propose additional funds from the new government to ensure continuity of the programme until 2025.
The present subsidy allocation is expected to run out by next month because of the high demand for EVs, thereports. Since the subsidy programme began, some 20,000 EVs have been registered with the country’s department of land transport. This representa a growth rate of 270% before the measures were adopted, which is said be the highest expansion rate among ASEAN countries.
He added that the subsidy limit is set to remain at 150,000 baht, although this amount will depend on the considerations of the new government as well as the size of the allocated budget.