Electric vehicle market

Do you think the EV market is in high demand in the APAC region?

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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 Electric vehicles forecasted to be produced 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 the APAC region. The reasons can be 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.

Market share of Electric vehicle in APAC region,

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BEV in APAC region,

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PHEV in APAC region,

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The market is not quite impressive. Even though each region has been shown with the interest. But, China being a leader captured 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. The partnership for the automotive companies to come out strongly. To 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 buzzword in western countries.

Source:- Ipsos

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