Toyota unit signs deal with Thailand on EV incentives

FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland, March 5, 2019. REUTERS/Denis Balibouse/File Photo

The Thai unit of Toyota Motor Corp on Friday signed an agreement with Thailand on incentives to promote the use of electric vehicles in Southeast Asia’s major auto production base.

The EV incentives include tax breaks and subsidies to help reduce the price of EVs to make them more affordable, the finance ministry said in a statement.

Reuters

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