EV battery production plant of MG Thailand. (Photo: MG Automotives)
Thailand's National Electric Vehicle Policy Committee (EV Board) approved two new stimulus measures on Feb. 21 to boost local production of vehicle batteries and energy storage systems, as well as promote the development of electric buses and trucks. The subsidies could potentially save companies up to half of the costs of constructing factories. Thailand continues to roll out incentives, aiming to solidify its position as a hub for electric vehicle production.
