Toyota likes free money, signs on to Thailand's eco-car plan

Posted Sep 12th 2007 at 8:17PM by Lascelles Linton

Filed under: Toyota, Legislation and Policy

Toyota told Reuters they will join Thailand's plan to be the eco-friendly car production capital of the world. Trying to repair the economic damage to the Thai car industry from the 2006 coup, the Thai government is offering green car makers 50 percent cut in the excise tax, no income tax for 8 years and machinery imports duty free.

"Toyota should submit the application by November 30. ... We are studying carefully which model will meet customer demand," says Ninnart Chaithirapinyo, vice chairman of Toyota Motor Thailand. There are rumors Ford may sign up as well. So, in a few years, if you turn over your green car and see "Made in Thailand" don't be surprised.

[Source: Reuters]

Tags: eco car, EcoCar, taxes, thailand, toyota

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