BoI approves 3 EV projects, including charging stations

BoI approves 3 EV projects, including charging stations

The Board of Investment (BoI) has approved three projects for the electric vehicle (EV) scheme in November, including Energy Mahanakhon Co on Nov 27 for building charging stations worth 1.09 billion baht.

Mazda, through AutoAlliance Thailand, a joint venture with Mazda and Ford, won privileges on Nov 19 for a hybrid EV project worth 11.5 billion baht in Rayong.

Also on Nov 27, DTS Draxlmaier Automotive System Thailand won for high-voltage battery production worth 542 million baht in Chon Buri to serve BMW's plug-in hybrid EVs.

The application deadline for the government's EV scheme is on Friday.

Energy Mahanakhon is a subsidiary of SET-listed Energy Absolute Plc and plans to expand charging stations under the EA Anywhere brand nationwide.

Chokedee Kaewsang, the BoI's deputy secretary-general, said Energy Mahanakhon is the first operator under the EV scheme to be granted privileges for charging stations for plug-in hybrid and battery EVs.

The EV scheme is part of the government's S-curve policy and it expects the population of EVs in Thailand to reach 1.2 million by 2036.

"The application of Energy Mahanakhon calls for expansion to 3,000 stations nationwide," said Mr Chokedee.

"Many agencies and companies have already constructed EV charging stations at their offices to support their electric buses and EVs, such as PTT, Bangkok Mass Transit Authority, Metropolitan Electricity Authority and Electricity Generating Authority of Thailand."

In March 2017, the government kicked off EV promotions for car and auto parts makers, covering three types: hybrid EVs, plug-in hybrid EVs and battery EVs.

The BoI offers promotional privileges, including tax holidays of 5-8 years and import duty exemptions for cars and machinery.

The promotions include passenger cars, pickups and buses with different rates of privileges based on production technology.

The government added 10 more important EV parts to the corporate income tax exemption for eight years.

Four Japanese car makers -- Toyota, Nissan, Honda and Mazda -- have been granted privileges for hybrid EVs, while Mercedes-Benz, BMW and SAIC Motor-CP all won privileges to build plug-in hybrid EVs.

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