Reported about 1 year ago
Electric vehicle sales in Southeast Asia are rapidly increasing, with Chinese automakers such as BYD and VinFast from Vietnam leading the surge. This growth is impacting the traditional internal combustion engine car market dominated by Japanese and Korean companies. Counterpoint Research reported a more than 100% increase in EV sales in the region from January to March, while ICE car sales decreased by 7%. Chinese manufacturers are filling the gap in EV adoption, accounting for over 70% of EV sales in the region, particularly in Thailand where they have invested over $1.44 billion in new EV production facilities. BYD and VinFast are the top-selling brands in Southeast Asia's EV market, with BYD holding a 47% market share.
Source: YAHOO