Over the next five years, the BOI anticipates an investment volume of more than USD 5.5 billion for electric vehicles (EV) and EV-related investments in Thailand. Import duties and excise taxes will also be significantly reduced. The automotive industry in Thailand will thus further expand its leading role in the Asia-Pacific region. There are great opportunities for vehicle manufacturers, but especially for suppliers, in a flourishing production market.
Watch out investors in the automotive industry: The Thailand Board of Investment (BOI) is promoting Joint Ventures manufacturing automotive parts until 31.12.2025. Anyone investing in Thailand’s automotive industry has the option of extending the general exemption from corporation tax by 2 and up to 8 years. The regulation applies to both newly established Joint Ventures in Thailand as well as to existing companies that take on Thai partners.
In addition, access to the Japanese automotive industry beckons with the addition of a Thai partner.
