Thailand’s Finance Ministry is planning to request Cabinet approval for increased excise taxes on fully imported electric vehicles (EVs) lacking local components. Currently at 10%, the tax will rise to a minimum of 30% starting January 1, 2027. The proposed changes aim to promote domestic EV production and encourage manufacturers to incorporate local parts. This move is expected to impact the cost of imported EVs in Thailand, potentially slowing adoption rates. The Ministry believes this policy will foster the growth of the Thai automotive industry and create local jobs. Cabinet approval is anticipated within the next two weeks, paving the way for the new tax structure. The initiative reflects Thailand’s broader strategy to become a regional hub for EV manufacturing.