BOI Offers Tax Incentives to Attract Top Chinese EV Battery Makers in Thailand's Roadshow
The Board of Investment (BOI) of Thailand is holding a roadshow in China from Sunday to Tuesday in Guangdong and Fujian provinces to attract leading EV battery makers to invest in Thailand.
The aim is to make Thailand a hub for EV manufacturing.
The BOI hopes to meet with battery cell manufacturers such as Contemporary Amperex Technology (CATL), China Aviation Lithium Battery (CALB), Inpow Battery Technology (IBT), Eve Energy, Gotion High-tech, Sunwoda, and SVOLT Energy Technology.
BOI executives will explain the incentives and measures offered to these companies if they choose to produce in Thailand, which were approved by the National Electric Vehicle Policy Committee on February 21.
The Thai government, through the committee responsible for boosting Thailand's competitiveness, endorsed measures to establish an EV battery cell manufacturing industry on February 29, 2020.
Narit, the spokesperson, explained that the industry requires advanced technology and significant investment.
To receive full BOI incentives, EV battery manufacturers must meet the following criteria: be leading manufacturers, set up factories for battery cell production, produce cells with a minimum capacity of 150Wh per kilogram, and have battery cells capable of at least 1,000 recharging life cycles.
The Board of Investment (BOI) offers privileges such as tax exemptions on corporate tax and dividends, and import duty exemptions on machines and materials for export.
The Thai Board of Investment (BOI) will offer battery makers significant incentives to set up operations in Thailand.
These incentives include a 90% reduction on import duty for materials used in production and an import duty exemption for materials used in research.
Eligible battery makers will also receive subsidies for investment, research, and personnel training.
The BOI will negotiate with Chinese battery makers individually, considering factors such as investment plans, manufacturing capacity, connections to electric vehicle (EV) manufacturers, technologies, and knowledge transfer plans.
The BOI hopes to meet with battery cell manufacturers such as Contemporary Amperex Technology (CATL), China Aviation Lithium Battery (CALB), Inpow Battery Technology (IBT), Eve Energy, Gotion High-tech, Sunwoda, and SVOLT Energy Technology.
BOI executives will explain the incentives and measures offered to these companies if they choose to produce in Thailand, which were approved by the National Electric Vehicle Policy Committee on February 21.
The Thai government, through the committee responsible for boosting Thailand's competitiveness, endorsed measures to establish an EV battery cell manufacturing industry on February 29, 2020.
Narit, the spokesperson, explained that the industry requires advanced technology and significant investment.
To receive full BOI incentives, EV battery manufacturers must meet the following criteria: be leading manufacturers, set up factories for battery cell production, produce cells with a minimum capacity of 150Wh per kilogram, and have battery cells capable of at least 1,000 recharging life cycles.
The Board of Investment (BOI) offers privileges such as tax exemptions on corporate tax and dividends, and import duty exemptions on machines and materials for export.
The Thai Board of Investment (BOI) will offer battery makers significant incentives to set up operations in Thailand.
These incentives include a 90% reduction on import duty for materials used in production and an import duty exemption for materials used in research.
Eligible battery makers will also receive subsidies for investment, research, and personnel training.
The BOI will negotiate with Chinese battery makers individually, considering factors such as investment plans, manufacturing capacity, connections to electric vehicle (EV) manufacturers, technologies, and knowledge transfer plans.
