Southeast Asia is emerging as one of the world’s most closely watched growth regions for the electric vehicle industry, with ASEAN governments using tax incentives, production targets, charging infrastructure plans and regional trade arrangements to attract investment. Among the companies seeking to capture this momentum, China’s BYD has moved from exporter to local manufacturer, building factories, forming dealer partnerships and adapting products for tropical climates and price-sensitive consumers. The company’s experience offers a practical case for understanding how an electric vehicle maker can combine global technology, local production and policy alignment in a fast-growing regional market.
The regional electric vehicle market is no longer a niche segment. Data cited in recent industry research show that ASEAN pure electric vehicle trade expanded sharply between 2021 and 2023, while forecasts point to continued growth through 2027. At the same time, Thailand, Malaysia and Indonesia are following different electric vehicle adoption paths, creating a complex market in which policy support, consumer acceptance, charging infrastructure and competitive pressure all shape the pace of expansion. BYD’s strategy in ASEAN reflects these realities: local production in Thailand, distributor-led sales networks, product localization and active participation in government-backed electric vehicle programs.
1. ASEAN Electric Vehicle Market Enters a Rapid Growth Phase
The ASEAN electric vehicle market has moved into a phase of rapid expansion. According to the research, the total size of the ASEAN new energy vehicle market was close to USD 500 million in 2021. United Nations Commodity Trade Database figures for pure electric vehicle trade show an even sharper acceleration in cross-border activity. ASEAN pure electric vehicle imports rose from USD 297 million in 2021 to USD 1.064 billion in 2022, while exports increased from USD 98 million in 2021 to USD 985 million in 2022 and USD 1.22 billion in 2023. Total electric vehicle import-export value increased from USD 395 million in 2021 to USD 2.049 billion in 2022 and USD 2.52 billion in 2023.
| Year | Imports (USD 100 million) | Exports (USD 100 million) | Total trade (USD 100 million) | Annual growth (%) |
|---|---|---|---|---|
| 2018 | 0.56 | 0.04 | 0.60 | – |
| 2019 | 0.82 | 0.07 | 0.89 | 48.3 |
| 2020 | 1.10 | 0.09 | 1.19 | 33.7 |
| 2021 | 2.97 | 0.98 | 3.95 | 231.9 |
| 2022 | 10.64 | 9.85 | 20.49 | 419.5 |
| 2023 | 13.00 | 12.20 | 25.20 | 22.8 |
The table illustrates the scale of the electric vehicle trade shift in ASEAN. The jump in 2022 was particularly notable, with total electric vehicle trade rising by 419.5 percent, followed by further expansion in 2023. This trend indicates that ASEAN is becoming an important region for electric vehicle production, assembly, distribution and cross-border trade. It also shows that the electric vehicle supply chain is becoming more regionalized, as governments and manufacturers seek to capture more value within Southeast Asia.
Deloitte research cited in the study adds a forward-looking dimension. Consumer demand for electric vehicles in ASEAN is expected to continue rising, and the regional electric vehicle market is projected to exceed USD 2.6 billion by 2027. That forecast reinforces the view that ASEAN is moving from an early-stage electric vehicle market toward a period of faster commercialization. For electric vehicle manufacturers, the opportunity is not only to sell imported models but also to build local production, local supply chains and local service networks that can support long-term market growth.
The growth of the electric vehicle market in ASEAN is also linked to broader energy transition and carbon-neutrality goals. Governments are using electric vehicle incentives as part of industrial policy, energy security planning and environmental strategy. The combination of market demand, policy support and regional trade integration has made ASEAN a key testing ground for electric vehicle companies from China, Japan, South Korea, Europe and the United States, as well as local brands.
2. Thailand, Malaysia and Indonesia Show Different Electric Vehicle Trajectories
ASEAN is not a single market. Thailand, Malaysia and Indonesia each have distinct automotive industrial bases, consumer profiles and policy frameworks, and their electric vehicle trajectories reflect those differences. Thailand has moved fastest in electric vehicle sales and production, Malaysia is growing from a low base, and Indonesia is leveraging its resources and industrial policy to attract electric vehicle and battery investment.
Thailand is the region’s leading electric vehicle market in terms of sales momentum. According to Marklines data cited in the research, Thailand’s electric vehicle sales reached nearly 80,000 units in 2023, up 684 percent year on year. Thailand has also become a major production and assembly base for internal combustion engine vehicles in Southeast Asia, and it is now seeking to convert that industrial strength into electric vehicle manufacturing. The country’s electric vehicle market share was already dominant within Southeast Asia in 2022, making it a critical market for electric vehicle manufacturers seeking regional scale.
BYD’s performance in Thailand illustrates how quickly an electric vehicle brand can gain traction when product, pricing and policy align. In 2023, BYD’s Atto 3, Dolphin and Seal models sold 19,000, 9,000 and 2,000 units respectively in Thailand. In the first half of 2024, sales of the three models reached 6,000, 4,000 and 4,000 units. Combined, the three models accounted for 40 percent of Thailand’s battery electric vehicle market. The Atto 3 became a leading battery electric vehicle model in Thailand and a highly visible electric vehicle brand in the country’s passenger car market.
| Country | Key electric vehicle market signal | BYD presence and local activity |
|---|---|---|
| Thailand | Electric vehicle sales reached nearly 80,000 units in 2023, up 684 percent year on year; BYD’s three main models held a combined 40 percent battery electric vehicle share. | Atto 3, Dolphin and Seal sales; local factory completed in July 2024; dealer partnership with Rever Automotive. |
| Malaysia | New electric vehicle registrations were only 274 in 2021, or 0.05 percent of total sales; battery electric vehicle and hybrid sales reached 38,000 in 2023, up 69 percent. | Partnership with Sime Darby; 27 sales outlets opened. |
| Indonesia | New energy vehicle sales rose from 705 in 2019 to 10,327 in 2022 and 17,057 in 2023; 80 percent of 2023 sales came from Hyundai and Wuling; 14 new energy vehicle manufacturers were active by April 2024. | Partnership with Bakrie & Brothers; plan to open 50 dealerships; BYD, MG, GWM, Chery and VinFast have entered the market. |
Malaysia’s electric vehicle market is smaller but growing quickly. Malaysian Automotive Association data cited in the research show that only 274 new energy vehicles were registered in Malaysia in 2021, accounting for 0.05 percent of total vehicle sales. By 2023, battery electric vehicle and hybrid vehicle sales had reached 38,000 units, up 69 percent year on year. This growth suggests that Malaysian consumers are beginning to accept electric vehicle technology, although the market remains at an early stage compared with Thailand. Government tax exemptions and charging infrastructure plans are expected to support further electric vehicle adoption.
Indonesia is another important electric vehicle market with substantial long-term potential. In 2019, Indonesia’s new energy vehicle sales were only 705 units, or 0.2 percent of total vehicle sales. By 2022, sales had increased to 10,327 units, and in 2023 they reached 17,057 units. Hyundai and Wuling accounted for 80 percent of those sales. By April 2024, the number of new energy vehicle manufacturers in Indonesia had grown to 14, with BYD, MG, Great Wall Motor, Chery and Vietnam’s VinFast entering the market. Indonesia’s nickel resources have also made it a focal point for battery manufacturing investment, linking the electric vehicle market to the broader regional electric vehicle supply chain.
Although Malaysia and Indonesia remain at an early stage in electric vehicle adoption, their market potential, rising environmental awareness and government support suggest room for further growth. For electric vehicle manufacturers, the lesson is that ASEAN requires a differentiated approach. Thailand offers scale and production depth, Malaysia offers a growing consumer market with policy incentives, and Indonesia offers resources, industrial policy and a large domestic base. A single regional electric vehicle strategy is unlikely to succeed without local adaptation.
3. Policy Environment Provides Strong Tailwind for Electric Vehicle Adoption
Government policy is one of the most powerful forces shaping the electric vehicle market in ASEAN. In the early stage of electric vehicle development, manufacturers’ decisions on production lines and market entry are closely linked to government subsidies and tax incentives. Well-designed policies can reduce public investment costs, improve policy efficiency and accelerate electric vehicle production and adoption. Across ASEAN, Thailand, Malaysia and Indonesia have introduced a range of measures covering import duties, consumption taxes, purchase subsidies and charging infrastructure.
| Country | Policy area | Specific measures for electric vehicles |
|---|---|---|
| Thailand | Production target, tax incentives and purchase subsidies | The 30@30 policy aims for electric vehicles to account for 30 percent of vehicle production by 2030. From 2024 to 2025, import duties on battery electric vehicles priced at no more than 2 million baht are reduced by 40 percent; battery electric pickups priced at no more than 2 million baht are exempt from consumption tax; battery electric passenger cars priced at no more than 7 million baht benefit from a consumption tax cut from 8 percent to 2 percent; HEV and PHEV consumption tax ranges from 8 percent to 26 percent. Purchase subsidies reach up to 100,000 baht per electric vehicle and 100,000 baht per electric pickup. |
| Malaysia | Tax exemptions and charging infrastructure | Locally assembled imported vehicle parts are exempt from import duties until the end of 2027; locally assembled battery electric vehicles are exempt from import duties, domestic taxes, consumption tax and sales tax until the end of 2027; imported battery electric vehicles are exempt from import duties, domestic taxes and consumption tax until the end of 2025. Charging equipment manufacturers receive income tax exemptions from 2023 to 2032 and a 100 percent investment tax allowance for five years. The country plans to build 10,000 charging piles by 2030. |
| Indonesia | Tax relief, VAT incentives, purchase subsidies and resource advantages | The luxury tax on electric vehicles was removed in the 2024 fiscal year, and import tax is to be removed by the end of 2025. Battery electric vehicles with local procurement above 40 percent receive a 1 percent VAT rate, compared with the general 11 percent rate; those with local procurement between 20 percent and 40 percent receive a 6 percent VAT rate. Purchase subsidies reach up to 80 million rupiah for battery electric vehicles and 40 million rupiah for HEVs. Indonesia also uses its nickel resources to attract battery manufacturing investment. |
Thailand’s 30@30 policy is a clear signal to electric vehicle manufacturers. By targeting electric vehicles at 30 percent of vehicle production by 2030, Thailand is linking its electric vehicle market to industrial upgrading and export competitiveness. The country’s tax reductions and purchase subsidies lower the cost of electric vehicle ownership and encourage manufacturers to localize production. Thailand’s geographical position also supports electric vehicle exports to other ASEAN markets and to free trade agreement partners.
Malaysia’s policy mix focuses on tax exemptions and charging infrastructure. The exemption of import duties, domestic taxes, consumption tax and sales tax for locally assembled battery electric vehicles is designed to attract electric vehicle manufacturing and assembly. The plan to build 10,000 charging piles by 2030 addresses one of the key barriers to electric vehicle adoption. The income tax exemption and investment tax allowance for charging equipment manufacturers further support the electric vehicle ecosystem.
Indonesia’s policy framework combines tax relief, VAT incentives, purchase subsidies and resource-based industrial policy. The removal of the luxury tax and the planned removal of import tax reduce the cost of electric vehicle imports and ownership. The VAT rates tied to local procurement encourage electric vehicle manufacturers to source more components locally. Purchase subsidies for battery electric vehicles and HEVs support consumer demand. At the same time, Indonesia’s nickel resources give the country a strong position in battery manufacturing, which is central to the electric vehicle supply chain.
Regional cooperation adds another layer of support for the electric vehicle market. ASEAN countries are increasingly cooperating on charging networks to support cross-border electric vehicle use, and technical standardization cooperation can lower the cost of cross-border electric vehicle deployment. The Regional Comprehensive Economic Partnership, through zero-tariff reductions, cumulative rules of origin and investment and trade facilitation, has made it easier for Chinese electric vehicle companies to enter ASEAN markets and for regional electric vehicle supply chains to deepen. The combination of national incentives and regional integration is turning ASEAN into a key growth pole for the global electric vehicle industry.
4. Competitive Landscape Remains Crowded and Multilayered
The ASEAN electric vehicle market is becoming more competitive. Traditional automotive giants from Japan and South Korea retain strong positions built on technology accumulation, supply chain depth and decades of local presence. Japanese companies such as Toyota and Nissan have established hybrid and electric vehicle production bases in Thailand and Indonesia and are pursuing local production to reduce costs. In Thailand, the overall vehicle market remains strongly influenced by Japanese brands, but Chinese electric vehicle brands are gaining share quickly.
In 2023, among the top 10 vehicle brands in Thailand by overall sales, six were Japanese, one was American and three were Chinese. Japanese brands such as Toyota, Isuzu, Honda, Mitsubishi and Nissan continued to dominate the broader vehicle market, while Ford represented the American brand presence. Chinese brands, including BYD, MG and Neta, appeared among the top 10, reflecting the rapid rise of Chinese electric vehicle makers. The market share of Chinese brands rose from 6.7 percent in 2022 to 12.6 percent in 2023. BYD’s share increased from almost zero to 3.6 percent in 2023, making it one of the most visible electric vehicle challengers in Thailand.
| Competitor group | Examples | ASEAN strategy and market position | Pressure on electric vehicle competition |
|---|---|---|---|
| Japanese incumbents | Toyota, Isuzu, Honda, Mitsubishi, Nissan | Local production bases, hybrid and electric vehicle projects, established supply chains and dealer networks | Strong incumbency in Thailand and Indonesia, but challenged by Chinese electric vehicle brands |
| Korean manufacturers | Hyundai, Kia | Production lines in Vietnam and Indonesia; affordable electric vehicle models aimed at mid-market consumers | Mid-market electric vehicle competition |
| Global premium electric vehicle brands | Tesla | High-end models, strong brand influence and appeal to high-income consumers | Premium electric vehicle segment |
| Local and regional brands | Wuling in Indonesia, VinFast in Vietnam | Price advantages, government policy support and focus on lower- and mid-market segments | Low- and mid-price electric vehicle competition |
| Chinese electric vehicle brands | BYD, MG, Neta, Great Wall Motor, Chery | Technology advantages, full-chain layout, rapid market entry and localization | Fast share gains in Thailand, Indonesia and other ASEAN markets |
South Korean manufacturers Hyundai and Kia have set up production lines in Vietnam and Indonesia and have introduced reasonably priced electric vehicle models to attract mid-market consumers. Tesla, meanwhile, has used its high-end models and strong brand influence to establish a presence in ASEAN and attract high-income electric vehicle buyers. Local and regional players such as Indonesia’s Wuling and Vietnam’s VinFast have relied on price advantages and government policy support to expand in lower- and mid-market segments.
The result is a multilayered competitive landscape. Japanese incumbents defend their mass-market position, Korean brands target mid-market electric vehicle buyers, Tesla competes in the premium electric vehicle segment, local brands leverage cost and policy support, and Chinese electric vehicle makers combine technology, scale and localization. This competition is likely to accelerate product launches, price competition and infrastructure investment across ASEAN, while also raising the bar for electric vehicle quality, after-sales service and local supply chain development.
5. BYD’s Internationalization and Core Capabilities Support ASEAN Push
BYD’s ASEAN expansion builds on a broader internationalization path. The company first established leadership in the domestic Chinese market through technology research and vertical integration. It then expanded globally using self-developed battery, motor and electronic control technologies, with investment in factories and strategic alliances as key entry modes, supplemented by exports. BYD initially targeted regions with strong policy support and large market potential, such as Europe and Latin America. In Europe, it used commercial vehicles as a breakthrough, launching electric buses and logistics vehicles and gaining experience in Germany and the United Kingdom before gradually introducing electric passenger cars. In Latin America, it responded to growing demand for environmentally friendly vehicles and worked with governments and companies to promote electric bus and taxi projects, especially in Brazil and Chile.
This international experience helped BYD develop flexible market strategies and customized product layouts. In ASEAN, the company has applied lessons from those markets while adapting to local conditions. The company’s core competitiveness rests on two pillars: technological innovation and vertical integration. BYD’s blade battery is known for high safety, long range and high energy density, making it a central element of its electric vehicle competitiveness. Its DM-i hybrid technology combines an efficient engine with an electric motor to improve fuel efficiency and battery performance, supporting growth in the hybrid vehicle market. BYD’s vertical integration covers battery, motor and vehicle manufacturing, giving it control over key parts of the supply chain and advantages in cost control, production efficiency and product quality.
| Core capability | Details | Relevance to ASEAN electric vehicle strategy |
|---|---|---|
| Blade battery technology | High safety, long range and high energy density | Supports electric vehicle safety and performance in tropical climates and helps build consumer trust |
| DM-i hybrid technology | Efficient combination of engine and electric motor; improved fuel efficiency and battery performance | Provides a bridge technology for consumers not yet ready for full battery electric vehicles |
| Vertical integration | Control over battery, motor and vehicle manufacturing | Improves cost control, supply chain resilience and speed of response to local electric vehicle demand |
| International market experience | Commercial electric vehicles in Europe; electric bus and taxi projects in Latin America | Provides know-how for policy engagement, local partnerships and product adaptation |
For the ASEAN electric vehicle market, these capabilities matter in practical ways. A reliable battery and strong electric vehicle performance can address consumer concerns about safety and range. Vertical integration can help BYD manage costs and supply chain risks as it localizes production. International experience can help the company navigate different policy environments and build partnerships with governments and local distributors. These capabilities do not guarantee success in every ASEAN market, but they give BYD a strong platform for competing in the region’s fast-changing electric vehicle landscape.
6. Local Production, Channels, Products and Marketing Form BYD’s ASEAN Playbook
- Local production in Thailand. In July 2024, BYD completed its Thailand factory and held a ceremony for the rollout of its 8 millionth new energy vehicle. Local production offers several advantages for the electric vehicle business. It shortens delivery times because vehicles do not need to wait for export shipping and customs clearance. Thailand also has favorable geographic conditions for export and free trade agreements with Japan and Australia, reducing trade barriers for right-hand-drive electric vehicle exports. Thailand’s location allows BYD to serve the wider ASEAN region, and local production helps the company participate more deeply in supply chain development, electric vehicle technology transition and charging infrastructure improvement. The Thailand model is not simply import trade; it involves local manufacturing, sales and service, and supply chain input.
- Distributor-led channel partnerships. BYD has worked with well-known local distributors to build sales networks quickly. In Thailand, it cooperates with Rever Automotive; in Malaysia and Singapore, with Sime Darby; in Indonesia, with Bakrie & Brothers; and in the Philippines, with Ayala Corp. This partnership model allows BYD to use local market experience, sales channels and geographic advantages to penetrate markets and raise brand awareness. Although cooperation may reduce margins, it lowers the risk of entering new markets and allows after-sales services such as warranty, maintenance and repair to be outsourced to local partners. BYD has also worked with local energy companies to promote charging infrastructure and electric vehicle adoption. Rever’s ReverCare privilege package, which includes an eight-year warranty and car loan interest rates as low as 1.98 percent, helps lower the consumer threshold for electric vehicle purchase.
| Country | Dealer or partner | Partner profile | Expansion plan |
|---|---|---|---|
| Thailand | Rever Automotive | Thai automotive dealer focused on high-quality vehicle sales and service | Provide 300 sales outlets for BYD by the end of 2025 |
| Malaysia and Singapore | Sime Darby | Multinational group covering production, distribution, retail, leasing, import and parts across the automotive value chain | 27 sales outlets opened for BYD |
| Indonesia | Bakrie & Brothers | Indonesian diversified group involved in infrastructure, manufacturing and other sectors | Plan to open 50 dealerships in the future |
| Philippines | Ayala Corp | One of the oldest and largest Philippine conglomerates, with businesses in real estate, banking, energy and telecommunications | Open 22 BYD dealerships by the end of 2024 |
- Product strategy tailored to ASEAN electric vehicle demand. BYD’s product strategy in ASEAN is market-demand oriented. The Seal and Song Plus EV are important models for the region. These electric vehicle models are designed to meet ASEAN consumers’ demand for price and range while emphasizing practicality and comfort. The Seal targets the higher-end segment, while the Song Plus EV targets mid-to-high-end consumers with a reasonable price and longer range. BYD has also adjusted product performance and design for local conditions. Given the tropical climate in ASEAN, the company optimized air conditioning, battery systems and heat dissipation to address the impact of high temperatures on battery performance. For price-sensitive markets, BYD uses local production and supply chain management to reduce costs and strengthen the competitiveness of its electric vehicle pricing.
- Localized marketing and policy engagement. BYD has implemented a strong localized marketing strategy in ASEAN to raise brand awareness and market share. It organizes test-drive events, participates in local auto shows and sponsors cultural activities to build emotional connections with ASEAN consumers and increase brand exposure. It also uses social media and digital marketing to interact with younger consumers and improve brand image and influence. Advertising highlights the environmental benefits, innovation and value of BYD electric vehicles. BYD also cooperates with local companies and governments to promote electric vehicle policy implementation. In Thailand, as the 30@30 policy advances, BYD has participated in government and corporate cooperation projects. It has also taken part in ASEAN auto shows and electric vehicle special events, displaying its latest electric vehicle technology and products and building a professional technical image.
- Strategic response to policy drivers and policy change. BYD actively uses ASEAN electric vehicle policies to support expansion. Thailand’s tax reductions, purchase subsidies and infrastructure support for electric vehicles are designed to support its goal of banning sales of fuel vehicles by 2030. By building a local production base in Thailand, BYD meets the government’s local manufacturing requirements and uses incentives to lower production and sales costs. The company also participates in local electric vehicle promotion projects to gain broader market acceptance. At the same time, BYD closely monitors policy dynamics in ASEAN and adjusts its strategy. In Indonesia and Malaysia, it anticipated continued strengthening of electric vehicle support policies and moved early to local production and charging infrastructure. It has also participated in government new energy vehicle procurement programs and continues to watch environmental regulations, adjusting product planning and marketing strategy to stay competitive.
7. Lessons for Chinese Electric Vehicle Companies
BYD’s ASEAN experience offers several lessons for Chinese electric vehicle companies seeking to expand abroad. The first is the need to balance localization and globalization. Chinese electric vehicle companies must understand the culture, consumer needs and policy environment of target markets and adapt accordingly. BYD’s cooperation with local distributors, local production bases and localized marketing shows how an electric vehicle company can reduce costs and better meet local demand. At the same time, globalization allows companies to use technology, brand influence and scale advantages to compete in larger markets. Electric vehicle companies should combine global technological innovation and resource integration with local operations to build dual competitiveness.
- Balance local adaptation with global scale. Electric vehicle companies should tailor products, services and partnerships to each ASEAN market while retaining the cost and technology advantages of global scale. Local production, local dealer networks and local after-sales service are essential for electric vehicle market acceptance.
- Use policy support without becoming dependent on it. Policy support, such as tax incentives and purchase subsidies, can accelerate electric vehicle market entry. However, over-reliance on policy may weaken incentives for innovation. Chinese electric vehicle companies should use policy support to lower costs while investing in technology that improves electric vehicle performance, safety and range. BYD’s blade battery and DM-i hybrid system are examples of technology development that reduces dependence on policy support and strengthens long-term competitiveness.
- Build local supply chains and service ecosystems. Electric vehicle success depends not only on the vehicle itself but also on charging infrastructure, maintenance, financing and consumer trust. BYD’s partnerships with local distributors and energy companies show how an electric vehicle brand can build a broader ecosystem. Chinese electric vehicle companies should consider local supply chain development, charging cooperation and after-sales service as part of market entry.
- Prepare for policy change and competitive response. ASEAN electric vehicle policies are evolving, and competition is intensifying. Electric vehicle companies should monitor policy changes, anticipate shifts in subsidies and local content requirements, and adjust product planning and investment accordingly. They should also expect stronger responses from Japanese, Korean, local and global electric vehicle competitors.
8. Outlook: Electric Vehicle Cooperation and Green Growth
The outlook for the ASEAN electric vehicle market remains positive. Rising consumer demand, government incentives, regional trade integration and growing investment in electric vehicle production and charging infrastructure are expected to support continued expansion. The market is still at an early stage in several countries, but the direction is clear: electric vehicle adoption is moving from niche to mainstream in Thailand and is gaining momentum in Malaysia and Indonesia. For electric vehicle manufacturers, the next phase of competition will be defined by local production, product adaptation, service quality, charging access and policy alignment.
BYD’s ASEAN strategy shows how an electric vehicle company can move beyond exporting and build a local presence. Its Thailand factory, distributor partnerships, product localization and policy engagement provide a practical reference for other Chinese electric vehicle companies. At the same time, the company’s experience shows that success in ASEAN requires more than technology. It requires local knowledge, patient partnership building, supply chain development and the ability to respond to policy changes. The electric vehicle market in ASEAN is not a single market but a set of national markets with different needs and regulatory conditions.
For China and ASEAN, electric vehicle cooperation can support green economic development, industrial upgrading and regional supply chain integration. The growth of the electric vehicle industry can reduce emissions, improve energy security and create new economic opportunities. However, cooperation must be managed carefully to ensure local value creation, technology transfer, environmental standards and fair competition. The electric vehicle transition in ASEAN will depend on coordinated efforts among governments, manufacturers, distributors, energy companies and consumers.
As the region’s electric vehicle market matures, the companies that succeed will be those that combine competitive electric vehicle products with local production, reliable service networks and strong policy partnerships. BYD’s experience in ASEAN offers useful lessons for Chinese electric vehicle companies and for the broader global electric vehicle industry. The case illustrates that the electric vehicle transition is not only a technological shift but also an organizational, industrial and policy challenge. In ASEAN, that challenge is already producing new forms of cooperation and competition, with the electric vehicle market at the center of a wider green growth agenda.