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Thailand EV Tax Gets Carmakers Weighing More Local Production

Bloomberg Markets Friday 06 November 2026, 05:45 UTC By Satid Sutipanya 1 min read
Key Points

Thailand EV Tax Gets Carmakers Weighing More Local Production Thailand’s higher taxes on imported electric vehicles are prompting automakers to consider more local production, boosting Bangkok’s drive to become an EV manufacturing hub. Millennium Group Corporation (Asia) Pcl, which distributes XPeng vehicles in Thailand, is studying a potential factory with the Chinese automaker after the government announced a 35% excise tax on imported EVs. “We are working with XPeng to assess the...

Thailand EV Tax Gets Carmakers Weighing More Local Production Thailand’s higher taxes on imported electric vehicles are prompting automakers to consider more local production, boosting Bangkok’s drive to become an EV manufacturing hub. Millennium Group Corporation (Asia) Pcl, which distributes XPeng vehicles in Thailand, is studying a potential factory with the Chinese automaker after the government announced a 35% excise tax on imported EVs. “We are working with XPeng to assess the project’s commercial viability, potential production volumes, the readiness of local parts suppliers and our ability to meet local-content requirements,” it said in an emailed statement.
Thailand (LOCATION) Bangkok (LOCATION) EV (ORG) Millennium Group Corporation (ORG) Pcl (ORG) XPeng (ORG) Chinese (ORG)
Originally published by Bloomberg Markets Read original →

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