Chongqing - China-Singapore (Chongqing) Multimodal Transportation Logistics Development Co., Ltd. recently delivered 50 SERES new energy vehicles (NEV) to Singaporean customers, marking the first NEV export business completed by the company.

NEV market opportunity in ASEAN countries

Ouyang Gangxing, deputy general manager of China-Singapore (Chongqing) Multimodal Transportation Logistics Development Co., Ltd., said that the demand for NEV in Singapore is huge.

By 2025, Singapore will stop registering diesel-powered vehicles, and new car registrations in 2023 must be energy-efficient. This brings Chen Shuaitang, CEO of Singapore Guan Chao Holdings Limited, who came to Chongqing. This industrial municipality is well-known for its smart manufacturing, to purchase NEVs from SERES. 

Like Singapore, many ASEAN countries possess a positive attitude and embrace NEV actively.

Thailand issued a new policy to clarify that battery-electric vehicles will account for 50% of all new car registrations by 2030 and proposed that by 2030, public fast charging stations can provide 12,000 fast charging heads and build 1,450 charging stations. 

The Philippines requires domestic public transport companies to increase the proportion of their battery-electric vehicles to more than 5%.

Also, Indonesia plans to subsidize electric vehicles next year, hoping to reach 2.5 million users by 2025.

ASEAN countries issue new policies to support new industrial energy vehicles. (Graphics / Chen Yuting)

Reflecting strong recognition of Chongqing NEV

ASEAN is Chongqing's largest trading partner currently. 

According to the latest statistics from Chongqing Customs District, in the first 11 months of 2022, Chongqing's NEV exports to ASEAN increased by 772.7% year-on-year, with a total value of 20.772 million yuan (about USD 3.02 million).

In 2021, Chongqing Sokon Motor (Group) Imp. & Exp. Co., Ltd. officially reached cooperation with Singapore agents to promote two types of economical electric logistics vehicles to the Singapore NEV market.

Since this year's beginning, the company has introduced SERES electric passenger vehicles and Dongfeng Sokon commercial vehicles in Singapore, Malaysia, Thailand, and other markets and introduced mid-to-high-end intelligent electric vehicles. 

Zhou Jiangwen, CEO of Shineray Group, a joint venture with Brilliance Auto Group to produce SWM-branded automobiles and motorcycles in Chongqing, mentioned that the ASEAN market has a relatively high recognition of Chongqing NEV.

Zhou continued many intermediate dealers have taken the initiative to negotiate cooperation with Shineray Group, hoping to introduce more "Made in Chongqing" NEVs to the market.