In today’s briefing:
- ASEAN EV Ecosystem Series: Committed Towards Building a Regional EV Ecosystem
ASEAN EV Ecosystem Series: Committed Towards Building a Regional EV Ecosystem
- EV adoption in the ASEAN is very low compared to developed markets including the US, the Europe and China due to higher ASPs and lack of logistics, maintenance and repair.
- However, there has been a rapid growth in EV related investment in the region recently, focusing on developing domestic EV markets to make them more affordable while conserving the environment.
- The governments have put forward several incentives such as government funding, tax incentives to buy EVs, while introducing measures to discourage the use of ICE vehicles.
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