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The Thai government is studying a plan to replace 80,000 vehicles with electric vehicles, at an estimated cost of up to $714 million, aimed at promoting the shift to clean energy and revitalizing the automotive market, which has been declining since 2024. Currently, the initiative involves replacing commercial transport vehicles such as taxis, buses, and motorcycles, with the possibility of expanding to include all vehicle categories. The program is supported by new financing laws, financial incentive payments, and tax benefits. The goal is to bolster the region’s major automotive industry, which is facing challenges due to rising household debt and declining sales, especially for pickup trucks.
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