NEX Finishes 12% Lower as Cabinet Defers Decision on EV-Supported Measures

NEX’s share posted a drastic decline after the Finance Ministry postponed proposing tax measures to promote electric vehicles (EVs) at today’s cabinet meeting.

The share price of Nex Point Public Company Limited (SET: NEX) dropped THB2.50/share, or 11.63% to close at THB19.00/share, after hitting the bottom at THB16.50/share, or a loss of 23.26%. Total value of trades was THB908 million.

Arkhom Termpittayapaisith, Minister of Finance, said that it has been decided that any measures or policies associated with the use of electric cars (EVs) should be proposed altogether, and hence today’s cabinet meeting did not include such a proposal on the agenda.

Furthermore, there is some uncertainty regarding the reduction of excise taxes, customs fees, and government subsidies totaling up to 40 billion baht.