Reference
·Primary source
BOI EV3.5 production target (2026)
~725K BEV units cumulative
The Board of Investment (BOI) EV3.5 incentive package, approved December 2023 and running 2024-2027, requires participating OEMs to produce one locally assembled BEV for every imported unit sold under the scheme by end-2026, scaling to 1.5x by 2027. The combined cumulative production commitment across BYD, MG, GWM, Neta, Changan, and others is estimated at 700,000-750,000 BEV units by 2027 per BOI sign-up disclosures. Failure to hit the ratio triggers retroactive tax clawback.
Figure in context
The Board of Investment (BOI) EV3.5 incentive package, approved December 2023 and running 2024-2027, requires participating OEMs to produce one locally assembled BEV for every imported unit sold under the scheme by end-2026, scaling to 1.5x by 2027. The combined cumulative production commitment across BYD, MG, GWM, Neta, Changan, and others is estimated at 700,000-750,000 BEV units by 2027 per BOI sign-up disclosures. Failure to hit the ratio triggers retroactive tax clawback.
The Board of Investment (BOI) EV3.5 incentive package, approved December 2023 and running 2024-2027, requires participating OEMs to produce one locally assembled BEV for every imported unit sold under the scheme by end-2026, scaling to 1.5x by 2027. The combined cumulative production commitment across BYD, MG, GWM, Neta, Changan, and others is estimated at 700,000-750,000 BEV units by 2027 per BOI sign-up disclosures. Failure to hit the ratio triggers retroactive tax clawback.
Time scope
2024-2027 cumulative target
Source basis
Primary source
Interpretation notes
What this tells you
The Board of Investment (BOI) EV3.5 incentive package, approved December 2023 and running 2024-2027, requires participating OEMs to produce one locally assembled BEV for every imported unit sold under the scheme by end-2026, scaling to 1.5x by 2027. The combined cumulative production commitment across BYD, MG, GWM, Neta, Changan, and others is estimated at 700,000-750,000 BEV units by 2027 per BOI sign-up disclosures. Failure to hit the ratio triggers retroactive tax clawback.
What not to do with it
Use the linked report for interpretation and keep basis differences explicit.
Related figures
Adjacent numbers that add context without drowning the value.
2024 vehicle production
Federation of Thai Industries Automotive Industry Club
2024 BEV share of new passenger-car registrations
Department of Land Transport, Thailand Automotive Institute, IEA Global EV Outlook 2025
BOI EV3.5 consumer subsidy
Thailand Board of Investment, Excise Department
HS 87 export value
UN Comtrade, Thai Customs Department
BYD Thailand BEV capacity
BYD disclosures, BOI quarterly applications, EEC Office
Toyota Thailand production
Toyota Motor Thailand, FTI production release
Report context
Atlas actors in this figure's reports
Profiles covered in the report that cite this number.