CHART: Thailand is leading Southeast Asia's battery electric vehicle sales
In Q1 2023, passenger battery electric vehicle (BEV) sales in Southeast Asia (SEA) experienced a staggering growth of almost 10 times compared to the previous year, according to research by Counterpoint's SEA Passenger Electric Vehicle Model Sales Tracker.
The share of BEVs in total passenger vehicle sales saw significant growth, reaching 3.8%, up from a mere 0.3% one year ago. Meanwhile, the market for plug-in hybrid electric vehicles (PHEVs) only saw a modest YoY growth of 5.8%.
Per region, Thailand emerged as the leading country, capturing 78.7% of BEV sales, thanks to government-led efforts, as the Techloy chart below shows. It was followed by Indonesia and Vietnam which also performed well in the region.
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