The electric vehicle business or EV (Electric Vehicle) has become a business that is growing rapidly. Due to environmental awareness of consumers around the world In addition, governments in many countries have issued policies to promote this type of automobile business by providing support to both buyers and sellers. Including the value for money in terms of fuel. As a result, it has resulted in the widespread use of electric cars. especially countries in the ASEAN group. Can be seen from the website counterpointresearch.com December 2022 found that sales of electric cars in the Southeast Asian market in 2022 increased by 35% compared to the previous year, and markets in the CLMV countries have been pushing and promoting the use of electric cars. very much within the country Therefore, this type of car business is worth watching and is likely to continue to grow in the future.

Overview of the electric vehicle market in Cambodia

The Cambodian government has partnered with large electric vehicle manufacturers EV Energy Tech and BYD to promote the installation of more than 200 electric charging stations across the country. In addition, a policy was issued to reduce the import tax rate on electric cars to 63% compared to 120% for gasoline cars in order to stimulate the consumption of electric cars by at least 40% by 2050 and reduce air pollution.

Overview of the electric vehicle market in Lao PDR

Lao People's Democratic Republic as a major electric power producing country in ASEAN Set a goal that in 2030, of all cars running in Laos, more than 30% must be electric. In order to stimulate investment and consumption of the electric vehicle business within the country. Including promoting the use of electricity produced by Laos itself. and reduce fuel imports. Currently, special policies have been issued to attract investors in this type of business. Passed the reduction of the electric vehicle import tax rate to 0%, excise tax to 3% and value added tax to 10%, as well as unlimited import quotas. So that importers can compete on price. It plans to turn gas stations into electric charging stations by 2025, with 100 electric charging stations expected to be installed by 2030.

Overview of the electric train market in Myanmar

The Myanmar government has fully supported the electric vehicle business and issued policies to promote foreign investment. Between November 2, 2022 and March 31, 2023, the import tax on electric cars from abroad for sale in the country has been reduced to 0%. And earlier this year there was a pilot project to import electric cars from China has come to provide taxi services in two major cities: Yangon, 10 vehicles, and Nay Pyi Taw, another 10 vehicles, for a period of one year. And last September A large batch of 50 electric passenger cars has been exported to Myanmar to provide the people of Myanmar with electric vehicles amidst the continuously increasing oil prices.

However, Myanmar still faces problems in distributing electricity for consumption. with unstable electricity in large cities And in some rural areas, electricity is still not enough. This is considered a challenge for the policy to stimulate the use of electric vehicles and the development plan for the electric vehicle industry in Myanmar.

Overview of the electric car market in Vietnam

The Vietnamese government has issued a policy to reduce tax rates and exempt electric vehicle registration fees for a period of 5 years starting from March 1, 2022 to February 28, 2027, which encourages more consumers to switch to electric vehicles to reduce air pollution. BMI The research arm of Fitch Solutions estimates that sales of passenger electric vehicles (passenger EV) in Vietnam will grow at least 2-fold in 2023. And sales of electric passenger cars in Vietnam are expected to expand 114.8% year-on-year to 18,000 units. Sales of battery electric vehicles (BEVs) could increase 104.4% year-on-year to 17,000 units, while plug-in hybrid electric vehicles (PHEVs) could increase nine-fold year-on-year. to the level of nearly 1,100 vehicles, and VinFast has dominated Vietnam's electric car market. It will hold more than 50% of the market share in 2023, while Chinese brands account for the remaining market share.

It can be seen that the electric car market in CLMV countries has been greatly promoted by the government sector of each country and is also a business trend that should be watched by investors from various countries.

Customers interested in doing business in CLMV or countries in the Great Mekong Subregion (GMS), including Cambodia, Laos, Myanmar and Vietnam, Siam Commercial Bank has international branches ready to take care of and provide services. If interested, please contact.

Thank you for the good information from: Cambodia Commercial Bank, Siam Commercial Bank. Vientiane Branch, Siam Commercial Bank Myanmar and Siam Commercial Bank Ho Chi Minh City Branch  https://www.scb.co.th/en/corporate-banking/international-network.html

 References

1. IEA. “Global electric car sales set for further strong growth after 40% rise in 2020 ”. Global electric car sales set for further strong growth after 40% rise in 2020 - News - IEA

2. Auto Spinn. “ไทย ทำยอดขายรถยนต์ไฟฟ้าอันดับ 1 ในอาเซียน”. ไทย ทำยอดขายรถยนต์ไฟฟ้าอันดับ 1 ในอาเซียน - EV Trends | (autospinn.com)

3. Counter Point. “Thailand Leads South East Asia EV Market With 60% Share”. Thailand Leads Southeast Asia EV Market With 60% Share (counterpointresearch.com)

4. Mordor. “Asean Electric Vehicle Market – Growth, Trends, Covid-19 Impact, And Forecast (2023-2028)”. ASEAN EV Market - Growth, Share, Size & Electric Vehicle Industry (mordorintelligence.com)

5. Vietnam Plus. “Vietnam’s Electric Vehicle Market Sees Great Potential”. Vietnam's electric vehicle market sees great potential | Business | Vietnam+ (VietnamPlus)

6. Thai Embassy. “โอกาสและความท้าทายในการส่งเสริมการใช้ยานยนต์ไฟฟ้าใน สปป. ลาว”. vientiane.thaiembassy.org/2022/08/5987/

7. MGR Online. “พม่าหนุน “รถยนต์ไฟฟ้า” เต็มสูบ ประกาศลดภาษีนำเข้าเหลือ 0%”. พม่าหนุน "รถยนต์ไฟฟ้า" เต็มสูบ ประกาศลดภาษีนำเข้าเหลือ 0% (mgronline.com)

8. MGR Online. “เอกชนจับมือรัฐบาลกัมพูชาหนุนประชาชนใช้รถยนต์ไฟฟ้า เล็งร่วมติดตั้งสถานีชาร์จ 200 จุดทั่วประเทศ”. เอกชนจับมือรัฐบาลกัมพูชาหนุนประชาชนใช้รถยนต์ไฟฟ้า เล็งร่วมติดตั้งสถานีชาร์จ 200 จุดทั่วประเทศ (mgronline.com)

9. Kaohoon International. “DFDL Myanmar Alert: Electric Vehicles Set to Charge into Myanmar Automobile Market External”. DFDL Myanmar Alert: Electric Vehicles Set to Charge into Myanmar Automobile Market External - KAOHOON INTERNATIONAL

10. TNN Online. “จีนส่งรถโดยสารไฟฟ้าไปเมียนมาแล้ว” จีนส่งรถโดยสารไฟฟ้าไปเมียนมาแล้ว (tnnthailand.com)

11. Globthailand.com. “จับตา! มาตรการภาษีเวียดนามต่อสถานการณ์ส่งออกยานยนต์ไทย” https://globthailand.com/vietnam-210122/

12. Infoquest. “นักวิเคราะห์คาดตลาด EV เวียดนามโตแข็งแกร่งในปี 2566” https://www.infoquest.co.th/2023/323875