Pacific Money | Economy | Southeast Asia
In the race to become the region’s EV powerhouse, Southeast Asian nations are seeking the involvement of state companies with a strong stake in fossil fuels.
Gojek drivers await passengers on Jalan MH Thamrin in Jakarta, Indonesia, on August 28, 2019.
Credit: Depositphotos
In Southeast Asia the race is on to become a regional electric vehicle (EV) powerhouse. VinFast, a subsidiary of Vietnamese conglomerate Vingroup, has big plans for a range of electric scooters and cars. Thailand recently saw the formation of an EV joint venture between Foxconn, Chinese start-up Hozon, and state-owned oil and gas giant PTT. Given the resources and political muscle behind these undertakings, as well as Thailand’s historical position as Southeast Asia’s leading auto…
