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Friday, June 21, 2024

EV Market soars as Thailand and Indonesia take the lead in Asia

Photo courtesy of Freepik

In a global trend, electric vehicles (EVs) are steadily gaining traction in the worldwide automobile market, with significant growth realised in Asia-ASEAN countries, specifically Thailand and Indonesia. This comes as per a study undertaken by the BloombergNEF research agency.

Ideally placed at the forefront of Asia-Pacific transportation, Senior Analyst of BloombergNEF, Allen Tom Abraham, projected a sharp increase in the global new passenger sales share, from 14% in 2022 to an astounding 30% by 2026.

This surging demand for EVs can be witnessed in a myriad of countries worldwide, with China and Europe standing as dominant figures in the market. Reportedly, EVs rule China’s automobile market with an impressive 52% share, while Europe follows closely, laying claim to 42% of the total car sales.

Several countries across Europe have exhibited substantial…

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