Chinese EV manufacturers led by BYD and VinFast dominate Southeast Asia's EV market, with sales more than doubling in Q1 2022, while ICE car sales dropped 7%.
Chinese EV manufacturers, led by BYD and Vietnam's VinFast, dominate Southeast Asia's rapidly growing EV market, with sales more than doubling in Q1 2022 compared to the previous year, while ICE car sales dropped 7%. Chinese OEMs account for over 70% of regional EV sales, with Thailand seeing a 44% growth in its EV segment. Despite Tesla's 37% sales growth, its market share in the region dropped two percentage points.
June 21, 2024
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