The electric vehicle era is slowly entering Southeast Asia as major Asian automakers roll out electric vehicle fleets in the region, with Chinese automakers appearing to be at the forefront.
In late March, the Bangkok International Motor Show, the region’s main industry event, showcased a high concentration of electric vehicles, including China’s Great Wall Motor’s new compact electric car, the Ora Haomao, which is being sold from 800,000 baht ($23,500) to It is positioned as a middle class car. As of mid-April, ORA Good Cat had more than 3,500 orders.
local production
There are also initiatives to produce electric vehicles through local capital. Thai oil giant PTT has unveiled electric vehicle prototypes and has partnered with Taiwan’s Hon Hai Precision Industry or Foxconn, a contract manufacturer of electronics that also aims to mass-produce electric vehicles in response to various companies ‘s order.
In Vietnam, VinFast, an automaker owned by local conglomerate Vingroup, started selling electric vehicles late last year.
Some governments in Southeast Asia are also racing to attract EV and battery manufacturing. For example, Indonesia, the world’s largest nickel producer, is trying to lure factories into the country with a possible embargo on unprocessed nickel and lower taxes on companies that make products in the country.
Massive investment in Indonesia
In April, major car battery maker CATL announced that it would invest US$6 billion in a new factory and other projects with the Indonesian company. The company explained that the investment is “a major milestone in the expansion of CATL’s global footprint”. South Korea’s Hyundai Motor has also started producing electric vehicles in Indonesia.
Tax incentives
In February, the Thai government announced an incentive plan to reduce tax rates for companies producing electric vehicles domestically. Sales subsidies are also available. The government aims to nurture related industries and stimulate demand through a tax system and subsidies.
Japanese manufacturers are also trying to catch up. Toyota showcased its mass-produced electric vehicle bZ4X and a battery-powered model from its luxury car brand Lexus at the Bangkok Motor Show. In late April, Toyota signed a memorandum of understanding with the Thai government to apply for the incentive.
Japanese automakers have long dominated Southeast Asia, with a market share of more than 80 percent in some countries. However, they target hybrids and plug-in hybrids as their main EVs, and their production of pure electric vehicles lags behind Asian rivals.
Great Wall Motor’s battery-powered ORA cat sells well in Thailand The electric vehicle era is slowly entering Southeast Asia as major Asian automakers roll out electric vehicle fleets in the region, with Chinese automakers appearing to be at the forefront. In late March, the Bangkok International Motor Show, the region’s major industry event, showcased a high concentration of electric vehicles, including China’s Great Wall Motor’s new compact electric car, the Ora Haomao, which is on sale in Thailand. Countries from 800,000 THB (23,500 USD)…
The electric vehicle era is slowly entering Southeast Asia as major Asian automakers roll out electric vehicle fleets in the region, with Chinese automakers appearing to be at the forefront.
In late March, the Bangkok International Motor Show, the region’s major industry event, showcased a high concentration of electric vehicles, including China’s Great Wall Motor’s new compact electric car, the Ora Haomao, which is on sale in Thailand. From 800,000 baht ($23,500), it is positioned as a middle-class car. As of mid-April, ORA Good Cat had more than 3,500 orders.
local production
There are also initiatives to produce electric vehicles through local capital. Thai oil giant PTT has unveiled electric vehicle prototypes and has partnered with Taiwan’s Hon Hai Precision Industry or Foxconn, a contract manufacturer of electronics that also aims to mass-produce electric vehicles in response to various companies ‘s order.
In Vietnam, VinFast, an automaker owned by local conglomerate Vingroup, started selling electric vehicles late last year.
Some governments in Southeast Asia are also racing to attract EV and battery manufacturing. For example, Indonesia, the world’s largest nickel producer, is trying to lure factories into the country with a possible embargo on unprocessed nickel and lower taxes on companies that make products in the country.
Massive investment in Indonesia
In April, major car battery maker CATL announced that it would invest US$6 billion in a new factory and other projects with the Indonesian company. The company explained that the investment is “a major milestone in the expansion of CATL’s global footprint”. South Korea’s Hyundai Motor has also started producing electric vehicles in Indonesia.
Tax incentives
In February, the Thai government announced an incentive plan to reduce tax rates for companies producing electric vehicles domestically. Sales subsidies are also available. The government aims to nurture related industries and stimulate demand through a tax system and subsidies.
Japanese manufacturers are also trying to catch up. Toyota showcased its mass-produced electric vehicle bZ4X and a battery-powered model from its luxury car brand Lexus at the Bangkok Motor Show. In late April, Toyota signed a memorandum of understanding with the Thai government to apply for the incentive.
Japanese automakers have long dominated Southeast Asia, with a market share of more than 80 percent in some countries. However, they target hybrids and plug-in hybrids as their main EVs, and their production of pure electric vehicles lags behind Asian rivals.
