In Q1 2023, Southeast Asia witnessed a significant increase in passenger battery electric vehicle (BEV) sales, growing almost 10 times year on year. The share of BEVs in total passenger vehicle sales rose to 3.8% compared to 0.3% a year ago. Thailand led in BEV sales, capturing over 75% of the market, with Indonesia and Vietnam following. Chinese auto groups dominated the region, with BYD Group emerging as the BEV leader. The top-selling BEV was BYD's Atto 3, and Volvo's XC60 topped the plug-in hybrid electric vehicle (PHEV) market. Malaysia, Philippines, and Myanmar need additional regulatory support to boost EV growth.

Source: ESGNewsasia