BYD is expected to be the latest Chinese automaker to take up the government's electric vehicle (EV) incentives when its sole distributor Rever Automotive Co signs an agreement with the Excise Department later this month for a tax reduction and subsidy that make the firm's "new energy vehicles" more affordable for Thai buyers.
After the agreement is signed, imported BYD cars will have an excise tax of 2%, down from 8%, in addition to zero customs already granted to Chinese-made cars, said Nutthakorn Utensute, spokesman for the Excise Department.
Each BYD car will also be eligible for a 150,000-baht subsidy, he said. The privilege package will take effect once Rever Automotive signs the agreement with the department later this month, said Mr Nutthakorn.
