GWM signs the MOU of EV 3.5 policy in Thailand

GWM News 2024-01-23

On19th, January, GWM officially signed a Memorandum of Understanding (MOU) with the Thai Ministry of Consumption Tax, becoming one of the first car brands in Thailand to receive government approval for the EV 3.5 policy. After signing the EV 3.0 policy on March 21, 2022, GWM once again became one of the first car companies to sign the EV policy in Thailand.

Ekniti Nitithanprapas, Director of the Thai Taxation Bureau, Prayut Setthapirom, Deputy Director, Cheng Jinkui, Regional President of GWM in ASEAN, and Khanchit Chaisupho, Vice President of Governmental and Public Relations for GWM in ASEAN, attended the signing ceremony.

The EV 3.5 policy is the second phase of electric vehicle incentive measures launched by the Thai government after the EV 3.0 policy, has been officially implemented on January 1, 2024, for a period of four years. This policy comprehensively stimulates the development of Thailand's pure electric vehicle industry by providing cash subsidies to new cars, reducing import tariffs and consumption taxes, and other measures. GWM actively responded and officially signed a 4-year (2024-2027) EV 3.5 policy. This cooperation aims to further enhance the potential of Thailand's electric vehicle industry, promote its industrial development, promote the transformation of Thai society towards pure electric vehicles, and support Thailand to become a leader in electric vehicles and a manufacturing center in the East Asian region.

Cheng Jinkui, President of GWM in the ASEAN region, stated: Since GWM entered the market in 2021, it has sparked a wave of electric vehicles in Thailand. The ORA series of products, including ORA 03, ORA 03 GT, and ORA 07, are high-quality automotive products that we have carefully crafted for Thai customers. They have a unique design style, integrate cutting-edge technology, and are environmentally friendly. The signing of the EV 3.5 policy marks GWM as one of the first electric vehicle brands to cooperate with the government. Our goal is aligning with the government's willingness to support the flourishing development of electric vehicles and their industrial ecology in Thailand, and it’s consistent with the vision of building Thailand into a regional electric vehicle manufacturing center. Since entering the market, we have actively supported various government policies and were one of the first brands to sign and participate in the EV 3.0 policy. We will continue to provide full support for the EV 3.5 policy and continue to promote the high-performance sports electric sedan ORA 07, which will be released at the 40th Auto Expo in November 2023. We promise that both models of ORA 07 actively participate in the EV 3.5 policy will not announce any retail price adjustments. We assure all Thai customers that the prices we set are reasonable and truly reflect the actual value they receive, whether they are regular or new customers.

The ORA 07 is the latest flagship model of the ORA series, a high-performance sports sedan powered by batteries, with two models: long range and high-performance. According to EV 3.5 policy, ORA 07 will maintain its current pricing without any adjustments. After signing, GWM will continue to deliver ORA 07 to Thai consumers.