A new round of policy adjustments has been introduced to revise the electric vehicle framework, with Thailand updating its incentive structure through revisions to the EV3 and EV3.5 schemes.

Narit Therdsteerasukdi, Secretary-General of the Board of Investment (BOI) and Secretary of the National Electric Vehicle Committee, announced that on November 25th, the new EV board, chaired by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas, approved the updated measures.

The revisions aim to align with global and domestic market conditions by increasing flexibility for operators and mitigating the risk of oversupply in the local market.

Enhancing flexibility for industry

The updated measures include the following changes:

- Extending the registration period for domestically produced electric vehicles until January of the following year to accommodate end-of-year sales.
- Revising subsidy payment terms to allow delays in disbursement if manufacturers fail to meet scheduled targets.
- Easing EV3 production compensation requirements by permitting factories under the EV3.5 scheme to participate in compensation production.
- Extending the deadline for counting foreign battery cell materials until June 2026, with a cap of 10% of the factory price.
- Establishing new guidelines for hybrid electric vehicle (HEV) manufacturers, covering carbon emission standards, local parts usage, and safety testing at the ATTRIC centre.

Mitigating market oversupply risks

The EV board approved additional measures to control vehicle supply, including:

- Increasing export incentives by counting each exported vehicle as 1.5 vehicles produced for compensation, reducing oversupply risks. Exports can be reported until June of the following year.
- Allowing manufacturers to exit the scheme by returning excise tax discounts with penalties if subsidies have not yet been received, thereby reducing production compensation obligations.

EV registration trends

As of October 2025, investments in the EV industry totalled THB 140 billion (US$ 4.3 billion), covering BEV production, battery manufacturing, key components, and charging stations.

These investments include projects in BEV production, battery manufacturing, key components, and charging and battery-swapping stations.

Narit noted that the development of Thailand's and the global EV industry is consistent with the country's plan to expand its role in regional EV manufacturing.

He further added that the updated measures are intended to stabilise the domestic market, provide flexibility for operators, and support participation in the global automotive supply chain, particularly for Thai parts manufacturers.