State preps incentives to spur EV demand

Asia's Tech News Daily
State preps incentives to spur EV demand

An electric vehicle on display at the Thailand International Motor Expo. The government’s target is that 30% of all cars produced in Thailand should be EVs by 2025. Wichan Charoenkiatpakul

The Finance Ministry stands ready to approve measures to promote the use of electric vehicles (EV), which is expected to significantly bring down the prices of imported EVs, said a source on the National Electric Vehicle Policy Committee.

The government’s target is that 30% of all cars produced in Thailand should be EVs by 2025.

The source added that to meet this goal the country has to launch a measure to promote the import of EVs. This is the quickest way to promote the use of EVs. The government will also support the rollout of infrastructure to support EVs.

This measure will take effect on January 1, which will result in a significant drop in the price of imported EVs, the source added.

Once EV demand is increasing, this will be an incentive to the related companies to install the charging stations and enable Thailand to ensure that almost all newly registered vehicles in 2030 are EVs.

However, the source declined to disclose the detail of the measure to promote the import of EVs, just adding that it will not be limited to only the tax incentive but also various other measures. However, it is not clear if Thailand will provide subsidies to people as an incentive to buy EVs.

Earlier the Excise Department’s director-general Lavaron Sangsnit said the excise tax rate to be applied to EVs might be the lowest because EVs barely emit any carbon dioxide (CO2).

The country’s current vehicle excise tax structure is based on engine power and CO2 emission rates.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related


German national tests coronavirus positive in MP; sample sent for genome sequencing

India has now reported 21 cases of the Omicron variant, 17 of which were reported on the same day of December 5. [Representative image] Amid the concern over Omicron COVID-19 ... Read more »

P2P lending firm LenDenClub raises $10 million from Kunal Shah, Hardik Pandya & others 

Representative image LenDenClub, a peer-to-peer lending firm, on December 7 said it has raised $10 million in a Series A round from investors such as CRED founder Kunal Shah and ... Read more »

Asian stocks follow Wall Street higher as virus fears ease

Stocks tumble as new variant detected in South Africa, officials on high alert The omicron variant has many mutations that health officials are investigating, but it’s still unknown if it’s ... Read more »

Biocon ties up with Tabuk Pharmaceuticals to commercialise speciality medicines in Middle East

Representative image Biotechnology major Biocon on Tuesday said it has inked a pact with Saudi Arabia-based drug firm Tabuk Pharmaceutical Manufacturing Company to commercialise select speciality products in the Middle ... Read more »

Watch: Sudha Murthy sings, performs aarti of pet dog Gopi on his birthday

Sudha Murthy has also dedicated a three-part book series on her dog Gopi. (Image credit: Instagram) Sudha Murthy, the chairperson of Infosys Foundation, recently shared an adorable video of her ... Read more »

CBS: Expensive energy causes highest inflation in almost 40 years

The prices that the Dutch pay for goods and services have not risen so sharply since September 1982, reports the Central Bureau of Statistics. Electricity was three quarters more expensive ... Read more »

Indian rupee gains 15 paise to 75.30 against US dollar in early trade

Representative image The rupee appreciated 15 paise to 75.30 against the US dollar in opening trade on Tuesday, as a rally in domestic equities and weak American currency in the ... Read more »

Motilal Oswal sees 34% upside in JSPL share price, expects EBITDA margin to improve

JSPL, Steel Jindal Steel & Power (JSPL) share price added more than 2 percent in the morning session on December 7 as the metal index outperformed other sectors, gaining over 2 ... Read more »

America and its gambling love story

Gambling is not just a fun way to pass the USA's time; it is a thriving industry. In terms of the volume of gambling, only a handful of countries can ... Read more »

Singapore firms slightly more upbeat for Q1 2022 amid Omicron uncertainties: Survey

SINGAPORE – Singapore companies are looking ahead to 2022 with renewed optimism, though uncertainties remain over the new Omicron variant driving a new Covid-19 wave, a business sentiment index out ... Read more »

Inflation in November 5.2 percent, highest in almost 40 years

Inflation was 5.2 percent in November. Such high inflation has not been measured since 1982. That is what the Central Bureau of Statistics announced today. Energy prices in particular rose ... Read more »

Indeed: Number of job openings has not increased for the first time in months

Photo: ANP The number of vacancies in the Netherlands did not increase further in November for the first time in months. Indeed reports this in its monthly job market update. ... Read more »

Is This NFT Project the Next CyberKongz?

Cyberkongz, a popular NFT project on the Ethereum blockchain, was originally minted for .01ETH. Now, you can’t buy one for less than 75.5 ETH ($300,000+). That’s a 754,900% ROI if ... Read more »

How much health insurance do you need to cover your spouse, children and parents?

Health insurance is an indispensable pre-requisite of a modern life that grapples with multiple health deteriorating stressors every day, including lifestyle imbalances and degrading air quality. An adequate medical insurance ... Read more »

Debt mutual funds turn cautious, increase cash positions: Here's why

Debt mutual fund managers are in wait-and-watch mode and holding onto cash in their schemes. They are concerned over a potential rise in bond yields in the short as well ... Read more »

Face irregular cashflows? Invest lump-sums in mutual funds by following these steps

Recently, I was talking to a friend of mine. His cashflows are irregular due to the nature of his family business. He told me that even though he understood the ... Read more »

Former Cognizant executive Suresh Bethavandu is Mindtree's Chief People Officer

Former Cognizant executive Suresh Bethavandu has taken charge as the Chief People Officer of Mindtree from December 1, the company said in a statement. Moneycontrol reported in October that Bethavandu, global ... Read more »

Madras HC allows Credit Suisse AG's winding-up plea against SpiceJet

Source: Reuters Madras High Court on December 6 allowed Credit Suisse AG’s winding petition against SpiceJet for failing to pay around $20 million in dues to Switzerland-based SR Technics, which undertakes maintenance, repair ... Read more »

Chana industrial estate protesters dispersed, 36 arrested

Protesters against the government’s Chana Industrial Estate project in Songkhla province rally under a tent in front of Government House on Monday night. (Photo supplied) Crowd control police on Monday ... Read more »

ING and charities work together on digital donations

Photo: ANP ING has entered into a partnership with various charities for digital donations via the ING Mobile Banking App and Mijn ING. The bank and the seven charities will ... Read more »

Newborn child rescued from garbage bin

Rescue volunteers care for the newborn after lifting her from the garbage bin where she was found abandoned in Bang Kapi district, Bangkok, in the early hours of Tuesday. The ... Read more »

Alibaba shares jump as much as 9.6% in Hong Kong in broad tech rebound

HONG KONG (BLOOMBERG) – Alibaba Group Holding drove a rebound in Chinese tech stocks in Hong Kong on Tuesday (Dec 7), as bargain hunters piled in amid improved sentiment following ... Read more »

China's November exports rise 21.4% over a year ago but growth eases; import growth surges to 31.7%

BEIJING — China’s November exports rise 21.4% over a year ago but growth eases; import growth surges to 31.7%. Read more »

China's November exports rise 21.4% but growth eases

BEIJING — China’s exports rose 21.4% in November over a year ago but growth eased, while import growth accelerated to 31.7%. Exports rose to $325.5 billion, slowing from October’s 27.1% ... Read more »

China's November export growth slows but imports accelerate

China’s exports growth lost steam in November, pressured by a strong yuan, weakening demand and higher costs, but imports accelerated and came in well above expectations as the country scrambled ... Read more »

Worried about heavy wedding expenses? Here are seven steps to trim costs

(Photo courtesy Knotting Bells). The Big Fat Indian Wedding season is back after 20 months, given the decline in COVID-19 cases. Parents seem to be planning for their children’s wedding ... Read more »

Tanla Platforms touches 52-week high on partnership with Vodafone Idea

Tanla Platforms share price touched a 52-week high of Rs 1,675.90 and locked at the 5 percent upper circuit on December 7 after the company announced partnership with Vodafone Idea. ... Read more »

NCLT permits withdrawal of insolvency proceedings against MGF Developments

According to the latest data from the Insolvency and Bankruptcy Board of India (IBBI), 126 cases were admitted between April and June 2021. (Representative Image) The National Company Law Tribunal ... Read more »

Goa CM Pramod Sawant appeals to all citizens to get fully vaccinated by December 19

Image: @DrPramodPSawant/Twitter Appealing people not to panic over the Omicron scare, Goa Chief Minister Pramod Sawant said his government plans to get all eligible citizens fully vaccinated against COVID-19 by ... Read more »

Hong Kong loses shine amid tough coronavirus restrictions

The Associated PressA security guard in protective gear opens the hotel’s gate for the arrival of a van carrying overseas quarantine passengers from an airport in Hong Kong on Nov. ... Read more »

Chamber of Commerce: more bankruptcies in November

Photo: ANP The number of bankruptcies in the Netherlands increased in November. According to the Chamber of Commerce (KVK) in its monthly trend report, it was 153 compared to 99 ... Read more »

AIA sells almost US$10 billion of coal-related investments as companies rush to sever ties with the fuel in their bid to go green

AIA Group has sold almost US$10 billion of investments in coal mining and coal-fired power businesses as pressure grows on financial firms to cut ties with the sector. The insurer ... Read more »

Changing work dynamics inject new life into Hong Kong's prime office sector

Covid-19 has driven a well-documented shift in working practices, with work-from-home policies providing flexibility to previously office-bound roles. However, employees are showing signs of missing the social interaction and professional ... Read more »

Daily Voice | Broad-based rally in store let by economic growth, corporate profitability, says Raghvendra Nath of Ladderup

Even as the market remains volatile in the near term, a long term rally is in store, believe experts. Ladderup Wealth Management’s Managing Director Raghvendra Nath believes the market will ... Read more »

King Cobras take on illegals at border Special army unit leads efforts to stem rise in people smuggling in Prachuap Khiri Khan

Soldiers make their way through a rubber farm as they head to the Tanaosi mountain range in Prachuap Khiri Khan where they are working to stem the inflow of illegal ... Read more »

Five injured in expressway pileup

The damaged front of the pickup that first ran into the rear of a line of stopped vehicles on the Burapa Withi expressway in Samut Prakan’s Bang Phli district on ... Read more »

Odyssey buys Temasek-backed drugmaker BenevolentAI in Europe's biggest Spac deal

LONDON (REUTERS) – Amsterdam-listed Odyssey has agreed to buy BenevolentAI in a deal valuing the British-based pharmaceuticals firm at up to 1.5 billion euros (S$2.3 billion) after the transaction, the ... Read more »

Rakesh Jhunjhunwala-backed Metro Brands sets IPO price band at Rs 485-500

Metro Brands IPO | Rekha Jhunjhunwala, wife of Rakesh Jhunjhunwala, is the third largest shareholder in the company Rakesh Jhunjhunwala-backed footwear specialty retailer Metro Brands, on December 7, fixed a ... Read more »

Dead gaur found just outside game reserve

The dead female gaur near Wat Khlong Sai Thammasak, found 500 metres from a game reserve in Nakhon Ratchasima’s Wang Nam Khieo district on Monday. (Photo: Prasit Tangprasert) NAKHON RATCHASIMA: ... Read more »

Asia stocks up as Omicron fears ease, China gains on banks' reserve ratio cut

SINGAPORE (REUTERS) – Asian stocks edged higher on Tuesday (Dec 7) on receding worries about the impact of the Omicron variant while Chinese markets gained after the central bank there ... Read more »
On you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic