ASEAN electric two-wheelers market is projected to grow at a considerable CAGR during the forecast period (2019-2025). The factors that are propelling the growth of the market include rising government initiatives and incentives to increase the sale of electric vehicles. In February 2019, Indonesia announced a $4 billion Chinese-led project for the production of nickel laterite ore which is used in lithium batteries and this will attract EV production in the country. In addition, the Indonesian government also aimed to produce 20% of the total vehicle production to be the electric vehicle by 2025, which is around 400,000 vehicles.
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Moreover, in November 2020, the Thailand Board of Investment (BOI) announced $1.1 billion for the investment in the deployment of electric vehicle production and also received a 90% reduction of import duties for battery cells. In 2020, the National Electric Vehicle Policy Committee (NEVPC) announced a roadmap to produce around 2.1 million EVs by 2036, in which Thailand aims to produce between 60,000 to 110,000 EVs yearly by 2022. Besides 100,000 to 300,000 EVs to produce yearly by 2025 and 400,000 to 750,000 EVs to produce by 2026. The benefit of the government will significantly drive the ASEAN electric two-wheeler industry.
Market Coverage
- Market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- By Product Type and By Battery Type
- Region Covered- ASEAN
- Competitive Landscape- Xiaomi, Inc., Bajaj Auto Ltd., Mitsubishi Motors Corp., BMW, Harley-Davidson, Inc., Honda Motor Co., Ltd., Segway Inc., and others.
ASEAN Electric Two-Wheelers Market Report Segment
By Product Type
- Scooter
- Motorcycle
By Battery Type
- NiMH
- Li-ion
- Others
ASEAN Electric Two-Wheelers Market Countries Covered
- Indonesia
- Thailand
- Malaysia
- Singapore
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
