ASEAN EV Market Rapidly Developing; Industry Players Optimistic About Taiwan's Semiconductor Supply Chain

(Central News Agency, Reporter Li Zongxuan, Bangkok, July 3rd) The ASEAN electric vehicle (EV) market is developing rapidly, with Thailand, Indonesia, and Vietnam emerging as major regional markets. Industry representatives state that although Chinese brands dominate the ASEAN EV market, it still presents opportunities for technology transfer and supply chain development. They also point out that Taiwan can leverage its semiconductor, component, and R&D capabilities to participate in the EV supply chain.

EV industry players from ASEAN countries are currently gathered at the "Mobility Tech Asia" exhibition in Bangkok. This exhibition, running for three days from the 1st, serves as an important exchange platform for sustainable and intelligent transportation in Asia, focusing on innovative technologies such as AI-driven smart transportation, smart infrastructure, Advanced Driver-Assistance Systems (ADAS), and EV solutions.

Edmund Araga, Chairman of the ASEAN Federation of Electric Vehicle Associations (AFEVA), told CNA that Thailand, Indonesia, and Vietnam are currently the fastest-growing EV markets in ASEAN, with the Philippines also rapidly catching up.

Araga noted that Chinese brands have come to dominate the ASEAN EV market, but this is not entirely a risk; rather, it is an opportunity for technology transfer, allowing ASEAN to learn and develop its own industries.

Thailand is one of the fastest-growing EV markets in Southeast Asia. According to projections by Krungsri Research, Thailand's annual new pure electric vehicle registrations are expected to remain around 125,000 units from 2026 to 2028.

Krisda Utamote, Honorary Advisor to the Electric Vehicle Association of Thailand (EVAT), stated that the rapid growth of EVs in Thailand in recent years is mainly due to government subsidy measures, which have driven manufacturers to shift from imports to local assembly, making vehicle prices more competitive.

He added that Thailand hopes to continue developing its supply chain for components such as batteries, electric motors, and ADAS in the future, enhancing local manufacturing capabilities.

Regarding Taiwan's role, Krisda believes that while Taiwan may find it difficult to compete with China in the overall vehicle market, semiconductors remain an indispensable part of the EV supply chain. Taiwanese company Delta Electronics has already invested in automotive component R&D and production in Thailand, indicating future potential for cooperation in semiconductors, components, and software development.

Willy Tee Ten, President of the Electric Vehicle Association of the Philippines (EVAP), admitted in an interview with CNA that the Philippines is currently one of the slower markets for EV adoption in Southeast Asia.

He explained that government subsidies remain the most important policy tool for promoting EV adoption. The Philippines currently exempts certain EVs from import duties, with these preferential measures in place until 2028. The association has begun communicating with the government to request an extension of another five years.

Speaking about Taiwan, Tee Ten pointed out that the Philippines heavily relies on motorcycles for delivery and taxi services, requiring vehicles with high range and carrying capacity. "Taiwan has an advantage in two-wheel electric vehicle technology, and future cooperation with the Philippines in the two-wheel vehicle market is expected."

He added that the Philippines' unique sidecar tricycles, which have long used two-wheel motorcycles with added sidecars, could become a market opportunity if models are designed specifically for local needs in the future. (Editor: Tang Shengyang) 1150703

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