Thailand to attract foreign investors into electric vihicle industry

BANGKOK, Feb 1 (TNA) -- The Ministry of Industry of Thailand sets up a working committee to attract foreign investors into establishing electric vehicle industry in the country. As the region’s automotive hub, Thailand’s government looks to support the industry to maintain that status. Industry Minister Uttama Savanayana held a meeting with the Board of Investment (BoI) officials on Tuesday to discuss strategic plan on promoting EV industry. The ministry is to spearhead the committee which is expected to complete a plan with tax incentives for investors within two weeks. Uttama noted that the plan would include ways to promote know-hows and innovation in EV industry for Thai entrepreneurs. The fact that electric cars will cost less, Thailand should consider procuring EV for public agencies, he said. Last August, the government approved measures to promote the production of electric cars or battery electric vehicles (BEVs) in Thailand. (TNA)