Business · 2026-11-03 · Morning briefing

Thailand to raise EV import tax to 35% to spur local output

Thailand will increase its excise tax on imported electric vehicles to 35%, a significant jump from the current 10% rate. The policy is explicitly designed to stimulate the local production of EVs, part of a broader strategy to establish the country as a regional manufacturing hub for next-generation vehicles.

The tax hike is a direct response to a recent influx of fully assembled electric cars from China. By making imports substantially more expensive, the government intends to alter the financial incentives for global automakers. The bet is that foreign firms will choose to invest in Thai factories to serve the market, rather than simply paying the higher tariff on finished vehicles. It marks a decisive shift from promoting EV consumption to protecting a nascent domestic industry.

Summary written by Cup of News with AI from the sources below. Check the originals for the full story.

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• Thailand raises tax on fully imported EVs to 35%, finance minister says
• Thailand prepares higher excise tax on imported electric vehicles — Bangkok Post

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