Thailand's electric vehicle battery subsidy will be submitted to the cabinet for approval

The Thai Ministry of Industry plans to ask the cabinet to approve an incentive plan for the production of electric vehicle (EV) batteries before the dissolution of the House of Representatives this month. At present, it is not known when officials will submit a package of proposals to the cabinet meeting every Tuesday, but according to Warawan Chitaroon, director of the Industrial Economy Office, the cabinet is expected to make a final decision within "1-2 weeks". The National Electric Vehicle Policy Committee earlier agreed in principle to reduce the consumption tax of electric vehicle batteries from the current 8% to 1%, and provide 24 billion baht of subsidies for the production of electric vehicle batteries.