Thailand approves incentives to promote EV shift

FILE PHOTO: A BMW M plug-in hybrid electric vehicle is seen during the media day of the 41st Bangkok International Motor Show after the Thai government eased measures to prevent the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand July 14, 2020. REUTERS/Jorge Silva

BANGKOK (Reuters) - Thailand's cabinet on Tuesday approved a package of incentives including tax cuts and subsidies to promote a shift to electric vehicles (EVs) in Southeast Asia's major auto production base, a government spokesperson said.

The package for 2022-2025 is in line with a zero emission vehicle policy plus a goal to ensure 30% of Thailand's total auto production are EVs by 2030, Thanakorn Wangboonkongchana told a news conference.