Climate change, net-zero and carbon neutral commitments are now fuelling the growth of electric vehicle (EV) sales. Other factors such as high oil prices come into play too and they contribute to the global shift to emission-free motoring. Across ASEAN, many countries are aiming for a more significant impact for the EV industry by introducing policies encouraging the use of EVs. These lead to the implementation of EV roadmaps, the introduction of tax exemptions and incentives and collaborations with the private sector.
This publication sets out how ASEAN is driving towards green mobility with a focus on the growth of the EV industry. Increased government support will lead to more investors in the region, which in turn will encourage more regional growth and choices in the EV market. The future of EV is promising, offering much choice for existing assets and incumbent players alike, and provide new opportunities and promising returns.
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For more information, please contact:
Amin Abdul Majid, Partner, SokSiphana&associates (a member of ZICO Law)