Electric vehicles (EVs) are one of the hottest topics in town.

Decarbonisation agenda, pro-EV policies, technological breakthroughs, urbanisation push factors, infrastructure-readiness, e-mobility and the millennial generation are all fuelling the EV conversation.

According to Maybank Kim Eng’s regional head of oil & gas and automotive research, Liaw Thong Jung, EV penetration is set to reach sales parity with internal combustion engine (ICE) vehicles by 2030 and Asean is accelerating its EV-readiness. The push for EV is gaining momentum as it has already reported a four-year CAGR sales of 43% from 2016 to 2020, and is fast approaching a tipping point.

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