Electric car east asia energy storage

Where are EVs making inroads in Southeast Asia?

Photo: Xinhua China’s EV (electric vehicle) boom is making inroads in Southeast Asia, with the most prominent markets being Indonesia, Thailand, Malaysia, and Vietnam . For a long time, EVs were considered a niche form of transport, given the specialization and cost-maintenance in a market oversaturated with hydrocarbon-powered cars .

Will China's EV push into Southeast Asia be a losing challenge?

On a long-term, grand strategic scale, China’s EV push into Southeast Asia represents a losing challenge for Washington. It is clear that EVs will dominate the long-term mode of transportation within Southeast Asia and that China holds all the cards to mature its EV infrastructure further.

Does China have a strong electric car market?

In recent years, China has established itself as a dominant force in the global electric car market. This year alone, sales of electric vehicles in China surged by 50% compared to the previous year, according to data from the China Association of Automobile Manufacturers.

How EV charging infrastructure is growing in Thailand?

Thailand’s EV charging infrastructure is undergoing rapid expansion to support the growing EV adoption. Between December 2023 and June 2024, the country’s charging network outlets increased by 12%, with DC chargers leading the growth. The report observes a strong market preference for DC chargers due to their rapid charging capabilities.

Why is China selling EVs to Southeast Asia?

China is not only just selling EVs to Southeast Asia. With EVs comes the necessary infrastructure to house charging stations and battery-swapping services. It is estimated that ASEAN may require total infrastructure investment of up to USD$2.8 trillion by 2030 to fuel their economic growth .

Is EV leasing a new business model in Singapore?

It is reported that the Singapore utilities firm, SP Group and Hyundai Motor Group will jointly develop a new business model for the leasing of EV batteries. The new model, named battery-as-a-service, is said to be the first in Southeast Asia, and will enable EV users to rent the car battery instead of owning it.