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Thailand and Indonesia are emerging as production hub in Southeast Asia EV Outlook
Passenger electric vehicle (EV) sales are projected to reach nearly 2.7 million units in 2040, comprising 56% of total sales for that year, according to BloombergNEF’s Economic Transition scenario.
According to data provided by Statista, the electric vehicle market in Southeast Asia will generate revenues of USD 6,587.0 million by 2024. Countries like China, Japan, and South Korea are at the forefront of electric vehicle production in Asia, but Thailand and Indonesia are quickly emerging as production hub.
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This industry will have an annual growth rate (CAGR 2024-2029) of 3.88%, resulting in a market volume of USD 7,967.0 million by 2029. Countries like China, Japan, and South Korea are at the forefront of electric vehicle production in Asia, but Thailand and Indonesia are quickly emerging as production hub.
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