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Vietnam will need nearly US$14 billion to develop a network of charging stations to develop a green transport system, said insiders. This is expected to reduce greenhouse gas emissions, and create great tremendous opportunities for the electric vehicles (EV)…
Thailand’s Board of Investment (BoI) has announced that the government would extend deadlines for electric vehicle (EV) manufacturers to meet domestic production quotas, addressing weak local market demand. Under the current EV 3.0 incentive program,…
Chinese auto giant BYD’s premium electric vehicle brand Denza has made its official debut in Singapore with two variants, both costing over US$200,000. According to Singapore-based car selling platform Motorist, the brand launched its first model in the…
China’s largest electric vehicle manufacturer BYD is recalling 97,000 units due to a technical error that poses fire risks. The Chinese automaker is recalling Dolphin and Yuan Plus EVs produced in China between November 2022 and December 2023 for containing a…
The Thai cabinet has approved a budget allocation to fund a subsidy program’s second phase, which offers electric vehicle buyers up to 100,000 baht (US$3,070) per vehicle. Under the second phase of the subsidy program called EV 3.5, running from 2024 to 2027,…
Car ownership tripled in 13 years to 63 vehicles per 1,000 people last year, according to the Ministry of Industry and Trade. The number of registered automobiles reached 6.31 million by the end of last year, it said in a recent report. Last year 408,500 new…
German auto brand Volkswagen has cut the prices of three models in Vietnam by VND140-500 million (US$5,700-20,300) this month. The Teramont now costs VND2 billion, down VDN500 million, or 20%, from its original price tag. The full-size SUV, which is imported…
Zeekr, Chinese conglomerate Geely’s premium electric vehicle brand, will be distributed in Vietnam by transport services provider Tasco. Following an agreement signed Monday the EV maker joined the list of auto brands distributed by Tasco, which also includes…
Indonesian Transportation Minister Budi Karya Sumadi is encouraging more people to embrace electric vehicles (EVs) in their lives as the country wishes to boost its e-mobility adoption. However, the minister admitted that convincing people to use EVs could be…
Toyota Vietnam has issued a recall for 634 Lexus cars in Vietnam due to potential issues with their cameras and fuel injectors. Most of the recalled vehicles were produced between November 2022 and August 2023, according to Vietnam Register. The cover of the…
Gasoline prices on Thursday fell to the lowest since June 20 in its third consecutive week of decline. The popular fuel RON95 dropped 1.25% to VND22,880 ($0.90) per liter. Biofuel E5 RON92 declined by 1.22% to VND21,900. Diesel fell 1.51% to VND20,190.…
Grab, Southeast Asia’s biggest ride-hailing and food delivery firm, has called off its proposed acquisition of Singapore’s third-largest taxi operator, Trans-cab, according to a statement from Singapore’s competition watchdog. The Competition and Consumer…
VinFast sold 13,000 units of its VF 5 electric car in Vietnam in the first half of the year, making it the top seller in the market. A person familiar with the matter said that 20,000 VF 5s were sold globally. Mitsubishi Xpander was the second most popular…
The Malaysian government has included the adoption of electric vehicles (EVs) in its National Energy Transition Roadmap (NETR) towards the goal of EVs accounting for 15% of all vehicles sold by the year 2030, rising to 80% by 2050. The current import duty and…
According to the research firm Counterpoint Research, EV sales in the region more than doubled in the January to March quarter from a year before. Sales of ICE cars,meanwhile, slid by 7%. “Vietnam saw an even more impressive growth, with BEV (battery electric…
Citizens’ deposits reached a new historic peak of VND6.676 quadrillion (US$262.2 billion) as of the end of March, according to the State Bank of Vietnam. This marked a 2.2% growth from the end of 2023. Meanwhile, corporate deposits fell 3.1% to VND6.6…
