The number of electric vehicles in ASEAN is increasing rapidly, Vietnam is named
Báo Tuổi Trẻ•03/08/2024
The Association of Southeast Asian Nations (ASEAN) is seeing rising electric vehicle sales, driven mainly by Vietnam, Malaysia and Indonesia.
Electric vehicles are booming partly thanks to domestic brands of various countries - Illustration: THANH LINH
Maybank Investment Bank, a Malaysia-based research institute, released the information on August 1. In a short report, Maybank said that supportive policies for the electric vehicle industry, the explosive growth of domestic brands, and the penetration of Chinese automakers in the regional market will boost electric vehicle sales in ASEAN countries. According to Maybank, electric vehicle companies in ASEAN - partnering with Chinese automakers - and companies in the battery supply chain will benefit from the boom in the electric vehicle market. This growth is driven by mineral resources and ecosystems related to electric vehicle batteries, as well as the advantage of having a large auto manufacturing infrastructure and increasing demand. Maybank's research institute also said that the global glut of electric vehicle batteries will benefit ASEAN, making electric vehicles more competitive in price compared to gasoline-powered vehicles.
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