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Southeast Asia market will become a competitive place for Chinese and Japanese car companies

Setec Powerr

NOVEMBER 30, 2022

In addition, other countries in Southeast Asia, besides Thailand, are in the midst of similar changes as the world’s fifth largest economy with a consumer market of 660 million people, Thailand, Vietnam, Singapore, and Indonesia together sold only 13,000 new energy vehicles in the first half of 2022.

Asia 97
Asia Chinese Thailand Companies 97
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Nearly one in five cars sold worldwide in 2023 was electric: IEA | Autocar Professional

Baua Electric

MAY 7, 2024

Increasing electric car sales were the main reason for growth in the overall car market, which contracted by 8% for conventional (internal combustion engine) cars but grew by 5% in total, indicating that EV sales are continuing to perform as the market matures. China exported over 1.2 million in 2023, increasing by 35% relative to 2022.

Costa Rica 52
Costa Rica Cars Brazil Thailand 52
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