Central News Agency (CNA) - July 3, 2024 - The electric vehicle (EV) market in the Association of Southeast Asian Nations (ASEAN) is developing rapidly, with Thailand, Indonesia, and Vietnam emerging as key regional markets. Industry representatives believe that despite Chinese brands dominating the ASEAN EV market, opportunities still exist for technology transfer and supply chain development. They also point out that Taiwan can leverage its semiconductor, component, and R&D capabilities to participate in the EV supply chain. EV industry players from various ASEAN countries are gathering at the "Mobility Tech Asia" exhibition in Bangkok, which runs for three days starting July 1. The event serves as an important exchange platform for sustainable and intelligent transportation in Asia, focusing on innovative technologies such as AI-driven smart mobility, intelligent infrastructure, Advanced Driver-Assistance Systems (ADAS), and EV solutions. Edmund Araga, Chairman of the ASEAN Federation of Electric Vehicle Associations (AFEVA), told CNA that Thailand, Indonesia, and Vietnam are currently the fastest-growing EV markets in ASEAN, with the Philippines also rapidly catching up. Araga noted that while Chinese brands have taken the lead in the ASEAN EV market, this presents not only risks but also opportunities for technology transfer, allowing ASEAN to learn and develop its own industries. Thailand is one of the fastest-growing EV markets in Southeast Asia. According to Krungsri Research, Thailand's annual new pure electric vehicle registrations are expected to remain around 125,000 units from 2026 to 2028. Krisda Utamote, Honorary Advisor to the Electric Vehicle Association of Thailand (EVAT), stated that the rapid growth of EVs in Thailand in recent years has been largely driven by government subsidy measures, which have encouraged manufacturers to shift from imports to local assembly, making vehicle prices more competitive. He added that Thailand aims to continue dev