Arowana Impact Capital



How can ASEAN move to an electric vehicle revolution?

“The continuation of Covid-19 mitigating measures—social distancing, lockdowns, quarantines and temporary closure of non-essential businesses—could shackle energy demand, keeping the oil prices low. This will hinder the energy transition, including the adoption of electric vehicles (EVs). However, the crisis will also bring about opportunities. The cleaner air that urban dwellers experienced due to mobility restrictions could encourage more people to switch swiftly to clean technologies, including EVs.”  Eco-business.com

Electric vehicles are key to achieving cleaner air, especially in smog-filled ASEAN cities. The global outlook for electric vehicles is promising; they are forecasted to constitute 58% of new car sales by 2040. However, EV uptake in ASEAN, the fifth largest automotive market in the world, has been sluggish. To change this, various strategies need to be adopted, such as continued electrification of public and commercial transportation, and the encouragement of local EV manufacturing.

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