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Thailand BOI approves new EV package, and diversifies over 35 billion in large investment projects – Tech

Bangkok, November 4, 2020 / PRNewswire / – The Thailand Board of Investment (BOI) today approved the roll from a broad set to cover all key aspects of the electric electric vehicles (EV) supply chain, including battery electric vehicles (BEVs), local production Has been focused on. Including important parts and ships as well as commercial vehicles of all sizes. The board also approved 35.7 billion baht (USD1.1 billion) Worth of large investment projects in many areas.

“In line with the government’s policy to promote electric vehicles across the board, and to respond to radical changes in the global car industry, the BOI today approved a package that will allow EV production and related supply chain development Will speed Thailand, And allow the entire region to go into high gear, “Ms. Duanzai UnrecognizedThe BOI Secretary General said after a board meeting chaired by Prime Minister General Prayag Chan-Okha.

New package for EV

The new promotional package, which replaces the first EV package ended in 2018, includes a wider range of passenger vehicles, buses, trucks, motorcycles, three-wheelers and ships. Incentive schemes for these different types of electric vehicles can be summarized as follows:

  • Four Wheelers: Qualified Projects with Lowest Value Total Investment Package 5 billion baht For PHEVs a 3-year tax holiday will be granted, but for BEVs, an 8-year corporate income tax exemption period will be offered and extendable in terms of R&D investment / expenditure. As for qualified projects with the least total investment 5 billion baht, 3-year tax holidays will be granted on PHEVs and BEVs, but if the project starts production by 2020, the tax holiday period for BEVs will be extended if the specified requirements such as additional part production, minimum production of 10,000 units are extended. Can. Year, and R&D investment / expenditure.
  • Motorcycle, tricycle, bus and truck: Qualified projects will be given a 3-year corporate income tax exemption, if there are additional additional requirements.
  • Electric-powered ship generation projects for vessels with less than 500 gross tons will be eligible for 8 years of corporate income tax exemption.

The BOI approved the addition of four more types of EV parts to the critical parts list, namely high voltage tapping, reduction gears, battery cooling systems and regenerative braking systems. Everyone in these four categories will get an 8-year corporate tax exemption.

To boost local EV battery production, the BOI approved a 90% reduction in import duty for 2 years on locally available raw or essential materials, in addition to producing both battery modules and battery cells for the local market Incentive approved.

The BOI has approved 26 projects for production of various types of electric vehicles including 5 hybrid electric vehicles (HEVs), 6 plug-in hybrid electric vehicles (PHEVs) and 13 BEVs, and 2 e-bus projects with a combined production capacity. Has given More than 566,000 units per year, BOI data shows. So far, seven of those projects have begun commercial operations, namely large companies such as Nissan, Honda and Toyota for HEVs; Mercedes benz And BMW for PHEVs; And new Commerce FOMM and Techno for BEVs. The agency also approved 14 projects to produce critical parts for EVs, including 10 battery production projects.

Clinical research

to boost Of thailand To strengthen competition in health care and the position of the nation’s medical hub, the BOI conducted clinical research with an 8-year corporate income tax exemption covering the operations of the Contract Research Organization (CRO) and the Clinical Research Center (CRC). Approved new incentives to promote.

To qualify, the project should not cost less than 1.5 million baht Per year on the salary of newly hired researchers who are Thai citizens or none less 1 million baht (The cost of land, working capital and vehicles are not included in the project).

Senior Care Hospital & Services

To prepare for an aging society, the BOI approved giving tax benefits to senior or dependent care service businesses.

  • Senior care hospitals Will receive 5 years of corporate income tax on the condition that they have a capacity of at least 50 beds.
  • Senior or Dependent Care Services A 3-year corporate income tax with a capacity of at least 50 beds will enjoy the holidays, and Thai citizens will not own less than 51% of the capital.

Restoration of International Purchase Office Division

BoI approves reinstatement of International Purchase Office (IPO) category with the aim of strengthening Of thailand Position as a regional trade and investment center.

IPO businesses will receive an import duty exemption on machinery and raw materials for use in production for export as part of a policy to promote the development of the country’s supply chain.

Productivity improvement measures expanded

Application deadline for benefits provided under Measures to improve productivity Which includes four measures, has been extended two years to end 2022. The package of measures, which includes a 50% corporate income tax exemption for 3 years in incentives, has also been renamed, removing the word “production” from its initial name. , To clarify that the measures apply to both the manufacturing and service sectors.

In addition, earlier measurement conditions limited to investment in the upgrading of the agricultural industry were expanded to promote sustainable development in related activities in the supply chain, such as furniture factories and paper mills, to encourage the implementation of international sustainability standards. , Such as the Food Safety Management System (ISO 22000) and the Sustainable Forest Management System (ISO 14061).

The four measures under productivity improvement measures are to promote energy conservation and alternative energy use, machinery upgrades, research and development, engineering design for efficiency improvement, and improvement of production efficiency through sustainable development.

Project approval

The details of the six large-scale projects approved by the BOI are as follows:

  1. New Kwang Soon Lee Sugar Factory Co. Ltd. Approved for investment of 5.1 billion baht A sugar production project located in Sa Kaew Province, in line with measures to boost investment in the Special Economic Zone (SEZ). The project will have a capacity of 374,550 tonnes of sugar and expected annual export revenue. 1.8 billion bahtRepresents 65% of total sales.
  2. Auto Alliance (Thailand) Company limited The plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV) production project located at Eastern Seaboard Industrial Estate in Rayong Province has been approved. Project with an investment value of 3.2 billion baht, Will produce 5,000 PHEVs and 1,000 BEVs per year for distribution in the domestic market.
  3. Amata B. Grim Power 1 company limited Approved for a power generation, steam and delimited water production project with an investment value of Rs. 6 billion baht. Located at Amata City Chonburi Industrial Estate in Chonburi Province, the project will have a capacity of 157.32 MW of power, 75 tons / hour steam and 1,566 cubic meters / demineralized water.
  4. Amata B. Grim Power 2 Company Limited Obtained approval for a power generation and steam generation project with an investment value of 5.4 billion baht. Located at Amata City Chonburi Industrial Estate in Chonburi Province, the project will have a capacity of 157.32 MW of power and 75 tons / hour steam.
  5. Glow SPP1 Company Limited Obtained approval for a power generation and steam generation project with an investment value of 11.3 billion baht. Located at the Asia Industrial Estate in Rayong Province, the project will have a capacity of 290 MW of electricity and 120 tons / hour of steam.
  6. Bangkok Cogeneration Company Limited Approved for a power generation, steam and delimited water production project with an investment value of Rs. 4.7 billion baht. Located at Map Tae Fut Industrial Estate in Rayong Province, the project will have a capacity of 162 MW of electricity, 90 tons / hour steam and 250 cubic meters / hour demineralized water.

For more information, please contact:

Thailand Board of investment
Tel. +66 (0) 2553 8111

Website: www.boi.go.th


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