Chinese EV makers such as Great Wall Motor and BYD eye Southeast Asian markets as competition escalates at home

Chinese EVs are affordable for customers in Southeast Asian nations and Chinese EV makers have few competitors there, CnEVpost founder says

Asean countries are target markets for Chinese EV companies whose cars range from 100,000 to 200,000 yuan

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A BYD EV is displayed at the Chengdu Motor Show 2022. The EV maker has been expanding aggressively in overseas markets this year. Photo: Xinhua

Published: 8:30am, 16 Nov 2022Updated: 8:51am, 16 Nov 2022

Chinese electric vehicle makers are making a foray into Southeast Asia, an untapped market with few established players, as competition ramps up at home in China.

BYD, Great Wall Motor, Hozon and Aiways have all been delivering EVs in countries such as Thailand, with the aim of gaining a foothold in these markets where three million cars are sold on average each year.

“Chinese-made EVs are affordable for customers in Southeast Asian nations, and Chinese EV makers have few competitors there,” said Phate Zhang, founder of Shanghai-based EV news site CnEVpost. “Some of the Chinese models have proved to be easy sales [in these markets].”

China is the world’s largest EV market, with sales expected to top 6 million units this year, more than double last year’s 2.99 million cars. But it is a cutthroat market, as Beijing’s drive to encourage the use of EVs has attracted some 200 companies, which have invested tens of billions of dollars in developing, designing and assembling electric cars.

Member countries of the Association of Southeast Asian Nations (Asean) are target markets for Chinese EV companies whose cars range from 100,000 yuan (US$14,204） to 200,000 yuan.

“EV markets in Asean countries have yet to take off, but the potential is huge amid customers’ rising interest in battery-powered vehicles,” said Peter Chen, an engineer with car-parts maker ZF TRW in Shanghai. “Local production will help them win a big market share in the coming decade.”