Regional market demand continues to be released
Not long ago, at the 2023 Indonesia International Auto Show, Daihatsu Indonesia launched an electric car Vizion-F with an environmental protection concept, which can be used as a dining car or a mobile café. Volvo Indonesia exhibited the C40 electric car, which has a range of 420 kilometers and takes only about 40 minutes to charge quickly. The Indonesian Association of Automobile Manufacturers said that it hopes to hold a car show to let the public better understand the advantages of electric vehicle development, stimulate market demand, and promote the development of electric vehicle industry.
In recent years, Indonesia has set the goal of building a hub for the manufacture and export of electric vehicles in Southeast Asia, aiming to increase the production of electric vehicles to 1 million by 2035. Johannes, chairman of the Indonesian Association of Automobile Manufacturers, said that the development of electric vehicles is the future of Indonesia’s automotive industry, and the Indonesian government encourages the automotive industry to develop in an environmentally friendly and sustainable direction to achieve net-zero emission goals.
In addition to Indonesia, many ASEAN countries have also developed electric vehicles and promoted the transformation of transportation technology as important breakthroughs to ensure energy security and achieve net zero emissions. An August report by the S&P Global Broad Market Index forecasts that EV sales in Vietnam will grow by an average of 25.8% annually from 2023 to 2032, rising from 8,400 in 2022 to about 65,000. Statistics from Thailand’s Ministry of Industry show that the number of electric vehicles registered in Thailand in the first half of 2023 exceeded 31,000, which has tripled the total in 2022.
At the 42nd ASEAN Summit held in Indonesia in May this year, the acceleration of the development of the regional electric vehicle industry became a major issue, and all member countries recognized the important role of electric vehicles in reducing greenhouse gas emissions, accelerating the energy transition, and promoting the decarbonization of the transportation sector.
According to a survey conducted by international accounting firm Deloitte, consumers in the ASEAN region are increasingly interested in electric vehicles. According to the analysis of market research agency Mordo Intelligence Consulting, the total size of the ASEAN electric vehicle market in 2021 is nearly 500 million US dollars, and it is expected to exceed 2.6 billion US dollars in 2027, and the sales of ASEAN electric vehicles will exceed those of fuel vehicles by 2035. “ASEAN has great potential to develop electric vehicles and is expected to become an important part of the global electric vehicle supply chain.” Indonesian President Joko Widodo said.
Post time: Sep-20-2023
