Registrations of new electric vehicles quadrupled year-on-year in fiscal 2023 after the government slashed the annual road tax, the Department of Land Transport reported.
The department registered 73,341 new electric vehicles (EVs) in the 2023 fiscal year (from Oct 1, 2022, to Sept 30, 2023), compared with 14,696 in fiscal 2022, deputy director-general Seksom Akaraphan said on Monday.
This was an annual increment of 58,645 vehicles, or 399.05%, he said.
Mr Seksom said the annual registration tax was reduced by 80% for new EVs, which would continue until 2025.
The tax was cut from 1,600 baht to 320 baht for an EV weighing up to 1,800 kilogrammes, from 800 baht to 160 baht for a private EV van up to 1,800kg and from 50 baht to 10 baht for an electric motorcycle, he said.