ASEAN leaders have agreed to improve the development of the electric vehicle (EV) industry in the region with the hope of one day serving the rest of the world as well.
ASEAN is committed to supporting the adoption of EVs in each member state. This includes creating a conducive business and investment environment.
Indonesian President Joko “Jokowi” Widodo says the declaration marks an essential step in the region’s economic cooperation.
“[The ecosystem] will be an important part of the global supply chain, so the downstream industry is key.”
EV use in ASEAN is lower than in countries with more developed vehicle markets, such as China.
Consultancy McKinsey and Company data shows that combined EV adoption in Thailand, Malaysia, and Indonesia in 2021 was less than that of Japan, where 1.2% of vehicles purchased were electric. China led in the indicator with 16.1%, followed by South Korea and Australia.
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