The three major countries from APAC, China, Japan and South Korea are forecasted to be the leading countries by 2022 in the electric vehicle segments. The number of EV forecasted to be production in China is 10,156 units, Japan is 1,685 units and South Korea 881 thousand units. However, in comparison to the rest of the countries across the continents, the number of countries showing growth is quite less with respect to the number of countries present in APAC region. The reasons can be the political fights, violence and not having the right infrastructure to make a shift and growth with the current trend but with time needs to come out of age.

The market share of EV in APAC region,

The market share of BEV in APAC region,

The market share of PHEV in APAC region,

The market share is not quite impressive. Even though each region has been shown with the interest but China being a leader is also capturing the market less than even 10%. The reason quite unknown why there is still reluctance towards the effort? Are the initiatives not taken seriously? Are the incentives or the policies not good enough for the electric vehicles in the APAC region or the market?

In my opinion, if APAC can focus on the electric vehicle, with a joint effort as seen in western countries, they can build a strong foundation and partnership for the automotive companies to come out strongly and provide a strong marketplace for any electric vehicles to enter into the market and can definitely create a need and demand among the consumer to try out the new EVs which has become the buzz word in western countries.

Source:- Ipsos