Singapore is forecast to have the largest share of passenger electric vehicles (EVs), 80% of all vehicles, in Southeast Asia by 2040, according to BloombergNEF. Meanwhile, the regional average is expected to be only 24%.
Thailand, in second place, is forecast to have a 41% share, followed by Vietnam (31%), Indonesia (25%), Malaysia (15%) and the Philippines (10%).
Singapore had the highest EV adoption rate among the six South-east Asian countries in 2023, with EVs accounting for about 19% of all vehicles sold.
In the first seven months of 2024 alone, EVs amounted to 32.1% of new car registrations, based on the Land Transport Authority.
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