The ASEAN electric car market is projected to grow at a CAGR of over 22.0% during the forecast period (2019-2025). Key economies contributing to the market growth include Singapore, Indonesia, the Philippines, and Thailand. The market growth is attributed to the tax incentives provided by the government in the region.
For instance, in February 2021, the government as a part of the inter-ministerial Singapore Green Plan 2030 announced to revise Singapore's multi-layered vehicle tax structure to make it easier for consumers to buy and own electric vehicles. In addition, rebates under the Vehicular Emissions Scheme, as well as the Electric Vehicle Early Adoption Incentive, were also introduced in January 2021. Together, they accord an electric car buyer as much as $45,000 in tax breaks.
Browse the full report description of "ASEAN Electric Car Market Size, Share & Trends Analysis Report by Vehicle Type (Hatchback, Sedan, and SUV), By Propulsion Technology (Battery Electric Car and Plug-in Hybrid Electric Car), By Battery Type (NiMH, Li-ion, and Others), and Forecast 2019-2025" at https://www.omrglobal.com/industry-reports/asean-electric-car-market
Moreover, the government has also announced its plan to more than double the targeted number of EV charging points from 28,000 to 60,000 by 2030. Such incentives provided by the government and the target set by the government to accomplish Green Plan tends to surge the ASEAN electric car industry.
Market Coverage
Key Questions Addressed by the Report
ASEAN Electric Car Market Report Segment
By Vehicle Type
By Propulsion Technology
By Battery Type
ASEAN Electric Car Market Countries Covered