📊 Thailand takes the top spot as EV adoption in the SEA region grows in 2022

Passenger electric vehicle (EV) demand across the Southeast Asia region is increasing gradually, however, sales remain relatively low compared to global EV sales constituting just 0.5% of the global total for 2022, according to a Counterpoint report.

Overall Passenger EV sales in the region accounted for just under 2% of the region’s total passenger vehicle sales in 2022. Battery EVs (BEVs) represented 64.6% of the total EV sales, while plug-in hybrid EVs (PHEVs) constituted the rest.

Among the major countries in the region, Thailand took the top spot, accounting for 58% of total EV sales, while Indonesia and Vietnam followed. The growth of Thailand's EV market was driven by various EV initiatives by the country's government, such as demand-side incentives and corporate income tax incentives for EV manufacturers.