This burgeoning market presents an attractive opportunity for Chinese EV makers, which increasingly seek growth overseas amid domestic competition so fierce it has been described as a bloodbath. Southeast Asia’s close economic ties with China, coupled with Chinese companies’ narrowing prospects in Western markets amid rising import tariffs, is boosting interest in the region.
Chinese brands have shown remarkable growth, from just 38 per cent of the region’s EV market in 2022 to over 70 per cent last year. These efforts are supported by an influx of Chinese investment in EV…
