The development of electric vehicles (EV) is gaining momentum in Southeast Asian nations, as such vehicles require fewer parts and barriers to market entry are lower compared to engine-powered vehicles, according to The Yomiuri Shimbun.
In its article on the July 8 issue, the Japanese newspaper analysed the development trend of automotive industry in Southeast Asia, which is focusing on electric vehicles.
It said in Vietnam, Thailand and other Southeast Asian countries, local companies have entered the automobile market in succession, adding that they are attempting to take on the challenge of competing with Japanese carmakers, who dominate the regional market, by promoting their domestic brands.
The governments of these countries are also heightening efforts to support the development of their own auto industries, with electric vehicles as the key focus. Vietnamese conglomerate Vingroup completed an automobile factory in June to produce Vietnam’s first auto brand, it said.
In September 2017, Vingroup — which is known for its wide-ranging businesses including real estate, retail, and information and communications technology — announced it intended to enter the automobile industry.
In less than two years, Vingroup created new cars by adopting technologies of companies such as General Motors and BMW through business cooperation.
The company said it has already received more than 10,000 sales orders. In Thailand, electricity generating company Energy Absolute PCL unveiled in March a minivan made in Thailand, from design and development through to parts procurement.
The company, which has yet to start selling the minivan, said the car is part of a national EV concept. In the Philippines, local companies are turning public transportation methods such as tricycles and jeepneys into EVs.
Meanwhile, in Malaysia, which already has two national car manufacturers, the government is promoting a new national car concept for the EV age.
According to the article, new-car sales in ASEAN, excluding Cambodia and Laos, increased 6.6 percent from the previous year to a record 3.56 million units in 2018. The figure has already reached to nearly 70 percent of the number in the Japanese market, which has sales of about 5.2 million units.
The ASEAN number is expected to exceed 4 million units by the end of 2020. Japanese carmakers currently have an overwhelming 80 percent share of the Southeast Asian market. Southeast Asian domestic brand cars will likely intensify their competition with Japanese automakers over the growing market, the article reported.-VNA
Asean meeting to address Transboundary Haze Pollution (21st MSC)
The drier and warmer weather could lead to an escalation of hotspot activities and increase the risk of transboundary haze occurrence in the region. MSC countries pledged to remain vigilant and to monitor and step up their haze preventive efforts
The Twenty-first Meeting of the Sub-Regional Ministerial Steering Committee on Transboundary Haze Pollution (21st MSC) was held on 6 August 2019 in Brunei Darussalam, and attended by Ministers/representatives responsible for the environment, for land, forest fires and haze, from Brunei Darussalam, Indonesia, Malaysia, Singapore, and Thailand, and the Secretary-General of ASEAN.(more…)
ASEAN inaugurates new Secretariat building to celebrate 52nd anniversary
JAKARTA, 8 August 2019 – ASEAN inaugurated the new ASEAN Secretariat (ASEC) building as it celebrated its 52nd anniversary today in Jakarta with a series of commemorative events involving the community, marking a new chapter in the organisation’s history.(more…)
Thailand woos Southeast Asian tourists with shopping campaign
The programme called “Give Me Five” is set to increase shopping among tourists from Cambodia, Laos, Myanmar and Vietnam (CLMV) along with Indonesia, Malaysia and India.
Thailand Ecommerce Market: Shooting For Success
At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce...
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing...
How is Thailand Bringing Technology to the Table?
In Asia, a country like Thailand has taken the initiative to implement agricultural biotechnology in its industry. The country has...