The Board of Investment approved four investment applications worth more than 161 billion baht and a promotion scheme for electric cars, the state investment agency said on Friday.
Of the pledges, Thailand's Gulf Group will invest in two electricity generating projects worth a combined 118 billion baht, the BoI said in a statement.
In addition, two units of energy giant PTT Plc will invest a combined 43.5 billion baht in gas transportation systems, it said.
The agency also approved tax incentives to promote the production of three types of electric cars in Thailand, Hirunya Suchinai, the head of BoI, told a new conference.
Applications for the production of hybrid electric vehicles and plug-in hybrid electric vehicles must be made this year and those for battery electric vehicles by 2018, she said.
The scheme, aimed at attracting demand for environmentally friendly vehicles, will be submitted for cabinet approval next Tuesday, Industry Minister Uttama Savanayana said.
Thailand is a regional manufacturing hub and export base for the world's top carmakers. The auto industry accounts for about 10% of the country's gross domestic product.