China’s EV exports hit record $9.2 billion in May as ASEAN demand surges

Smaller markets are also scaling rapidly. Lao PDR and Cambodia both hit record monthly volumes, supported by government incentives, expanding charging infrastructure and local assembly partnerships. Cambodia, for example, slashed customs duty on battery electric vehicles to zero and plug-in hybrids to 7% from 35% in late March. Battery-electric vehicles dominate the regional mix, with plug-in hybrids a fast-growing share in Cambodia. Lao PDR, on the other hand, reduced EV registration and service rates, while also mandating transport companies to have EVs as 10% of their fleet by the end of 2026. Further, in May the country temporarily banned petrol car imports until the end of the year, to reduce dependence on imported fossil fuels. The effect of this additional change will be seen in the data for the coming months.

“As anticipated, the disruption to global fuel markets caused by the Middle East conflict and the resulting impacts on fuel prices have accelerated transport electrification across ASEAN,” says Lam Pham, Energy Analyst – Asia at Ember.

“The current energy crisis has reinforced the value of electrification as a pathway to greater energy security, reduced fuel import exposure, and long-term transport cost savings,” he adds.