동남아시아 전기차 전환이 지역 기업들에게 새로운 기회를 창출한다

동남아시아 전기차 전환은 지역 기업들에게 새로운 기회를 창출합니다

126월2026

B&Company

B&Company는 2008년부터 베트남에서 시장 조사 및 투자 컨설팅을 전문으로 하는 첫 일본 회사입니다.

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추상적인

For decades, Southeast Asia’s automotive market was defined by Japanese-brand dominance, gasoline two-wheelers, and modest electrification ambitions. That picture has changed dramatically. As of late 2025, ASEAN countries now rank among the highest EV (electric vehicle) adoption markets in the world — overtaking the United States, the United Kingdom, and the European Union on key penetration metrics.¹

This article examines the accelerating EV transition across Southeast Asia, identifies structural market opportunities arising from this shift, and illustrates how regional players, particularly those native to ASEAN, are best positioned to capitalize on them. It concludes with practical implications for investors and market entrants.

Market overview: Southeast Asia EV by the numbers

아세안 전기차 시장은 2025년 약 46억 달러 규모였으며, 2026년에는 60억 달러에 도달한 후 2031년에는 236억 달러로 성장할 것으로 예상되며, 연평균 복합 성장률은 31.6%입니다.² 또 다른 추산에 따르면, 이 시장은 2021년 20억 달러에서 2035년에는 연간 800억~1,000억 달러 규모의 매출 기회를 창출할 수 있을 것으로 전망됩니다.³

The table below summarizes EV market status across ASEAN’s five largest automotive markets as of 2025:

Table 1: Southeast Asia EV market status: 5 key markets (2025)

국가	EV domestic sales share (2025)	Key policy	Notable investment
Vietnam	~40%	Tax incentives, VAT reduction, public fleet mandates	VinFast (domestic); World Bank forecasts 6.5M jobs by 2050⁴
태국	~20%	“30@30” target (30% Zero Emission Vehicle-ZEV by 2030)	Toyota, BYD, Tesla, and Hyundai plants operational or committed to local production⁵
인도네시아	~15%	Reduced VAT on EVs, import tariff cuts for local producers	BYD factory, VinFast Subang plant, CATL company battery facility⁶
말레이시아	성장	EV roadmap under the National Energy Transition	Proton EV line ($19.5M, 20,000 units/year capacity)²
필리핀	Early stage	EV Industry Development Act	VinFast e-scooter MoU with first dealer partners⁷

B&Company의 합성

동남아시아에서 전기차 판매량은 2024년에 거의 50% 증가하여 지역 전체 자동차 판매량의 9%를 차지했습니다. 위에 언급된 5개 시장 중 베트남과 태국이 가장 높은 개별 점유율을 기록했습니다.⁸

Policy as the engine: Governments are driving the transition

The Southeast Asia EV surge is not purely market-driven; it has been actively engineered by government policy, and understanding those policies is essential for any market entry strategy.

인도네시아 has deployed two powerful levers: reduced value-added tax on EV sales meeting local content thresholds, and temporary import tariff cuts for manufacturers committing to local production by 2026. The result: as of mid-2025, seven manufacturers had committed to establishing local facilities, including Aion, Gili, Maxus, and BYD (China), Citroën (France), Volkswagen (Germany), and VinFast (Vietnam), alongside Chinese battery giant CATL brand.⁴

태국‘s “30@30” strategy targets 30% zero-emission vehicles by 2030 and 100% by 2035.⁵ Backed by its EV3.5 incentive scheme, the country now hosts over 3,700 public charging stations with 11,600 connectors, more than 6,000 of which are fast DC chargers.⁵

Vietnam 은 세금 인센티브, 등록비 감면, 대중교통 전기화 의무화 등을 결합하여 국내 생산업체와 인프라 개발업체 모두에게 유리한 환경을 조성했습니다.⁵ 빈패스트(VinFast)의 플래그십 모델인 VF 3는 2025년 베트남에서 가장 많이 팔린 자동차가 되었으며, 판매량의 75%가 소비자에게 직접 판매되어 이전의 법인 판매 우선 전략에서 크게 전환되었습니다.⁴

The policy environment across ASEAN is not uniform, but the direction is consistent: governments are using manufacturing localization requirements, fiscal incentives, and infrastructure spending to accelerate the Southeast Asia EV transition and attract foreign investment simultaneously.

Case study: VinFast in Indonesia — A regional blueprint

VinFast’s expansion in Indonesia represents an ambitious Southeast Asia EV market entry by any regional player to date, and a model that other investors are watching closely.

The company launched its Subang plant in West Java in December 2025, just 17 months after breaking ground, a facility representing an initial investment of USD 200 million with capacity for 50,000 vehicles per year, with expansion plans targeting 350,000 units annually.⁶ The plant produces right-hand drive versions of the VF3, VF5, VF6, and VF7 e-SUVs, and is positioned as VinFast’s right-hand-drive export hub for APAC markets including Thailand, Malaysia, and Australia.⁶

The Indonesia strategy is deliberately integrated: vehicle sales and dealer networks are paired with ride-hailing fleet operations (Xanh SM taxis, expanded through a partnership with Gojek’s Green SM feature), V-Green charging infrastructure, and financial institution partnerships.³ In February 2026, VinFast signed e-scooter MoUs with seven Indonesian dealer groups, signaling further expansion into the two-wheeler segment.⁷

What market research reveals: A discussion with Central Insight Indonesia

B&Company’s team recently held a discussion with 센트럴 인사이트 Indonesia, a Jakarta-based market research firm with direct visibility into Indonesian consumer behavior and the industry sectors, to understand how VinFast is being received in the market and what structural forces are shaping EV adoption more broadly. The following reflects insights shared during that conversation.

“We believe that VinFast still has a lot of room for growth in Indonesia, despite currently already meeting its sales target since expanding to this market.
This is a great timing for market expansion for EV makers, as there are several driving factors that can lead people to shift from ICE cars to EVs:

– EVs have been widely accepted, especially in big cities. Now, many people no longer see EVs as a second option to ICE cars but have been considering them as the first option as well. Public charging infrastructure, mainly in Java Island, is well developed, so the public’s worry about limited charging stations has been significantly decreasing compared to a few years ago. As of December 2025, Indonesia has 4,778 public charging stations and is targeting 192,253 units across 3,099 locations by 2034. The 2034 target is based on a projection of a 4W EV population of 2.8 million units that year. ⁹

– The rush hour traffic in Indonesia’s capital city, Jakarta, has been defined by the odd-even policy, where the last digit of the car’s license plate should match the date to determine if the car is allowed to enter Jakarta’s main roads during rush hour. However, this policy is not applicable to EVs, prompting many people who commute daily to Jakarta to own an EV due to its flexibility during rush hour.

– The retail fuel supply situation in Indonesia has been uncertain since last year, as the private fuel companies sometimes have supply shortages, while many people prefer private fuel retailers for their great services and high product quality. The non-subsidized fuel and diesel prices had also been skyrocketing due to the geopolitical conflict in the Middle East, further burdening people’s fuel expenses. Therefore, EVs have become a more reasonable option.

– Pricing-wise, VinFast is on the competitive side, offering great value for money. Compared to ICE cars in the low- to mid-pricing segment, EVs in a similar price range typically have better build quality and more features, which are also the main attractions for consumers beyond low operating and maintenance costs. The competitive pricing is also supported by the government’s incentives.”

— 센트럴 인사이트, an Indonesian market research firm, as discussed with B&Company.

This insight aligns with B&Company’s observation of EVs’ regional landscape: To many people in Southeast Asia’s major cities, EVs are now a first-choice purchase, not a backup. Fuel supply uncertainty is quietly driving this shift in ways that aggregated data doesn’t yet reveal. And in the mid-range segment, value for money is a far more important deciding factor than environmental friendliness—a difference that will directly shape how manufacturers position their products and structure financing packages.

Where the opportunities exist

The Southeast Asia EV transition is not a single opportunity; it is a cluster of interconnected market openings across the value chain. The table below maps the key opportunity areas by segment and leading markets:

Table 2: Southeast Asia EV opportunity map by segment (2025–2030)

Opportunity segment	Key markets	Entry rationale
Vehicle manufacturing & assembly	Indonesia, Thailand, Vietnam	Local requirements facilitate domestic production
EV charging infrastructure	All ASEAN-6: Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam	Chronic undersupply compared to the growing EV fleet, while Direct Current (DC) fast chargers are fast becoming the standard consumers expect
Battery supply chain & materials	Indonesia (nickel-rich)	인도네시아는 전 세계 니켈 매장량의 약 40%를 보유하고 있습니다.
Fleet electrification & ride-hailing	Vietnam, Indonesia, Thailand	Rapid urbanization; government green fleet mandates
Electric two-wheelers (e-scooters)	Indonesia, Vietnam, Philippines	Dominant transport mode across SEA; lower price point
Financing & insurance for EVs	Indonesia, Thailand	EV loans and battery insurance are emerging segments

B&Company의 합성

결론

Southeast Asia’s EV transition is no longer a forecast; it is happening now, at a pace that is outrunning most market projections. Governments are committed, consumer attitudes are shifting, and regional players with the right combination of price, ecosystem, and local presence are already capturing share.

For investors and market entrants, the window is open but not indefinite. The markets that reward early movers, Indonesia, Vietnam, and Thailand, are also attracting the most competition. Getting in requires more than capital; it requires ground-level understanding of what consumers actually want, how policies are being implemented, and where the infrastructure gaps are widest.