Forecasted EV production APAC 2023, by country
Electric vehicle manufacturing has been on the rise in the Asia-Pacific region. It was forecasted that by 2023, China would produce over 13 million electric vehicles. Japan and South Korea were both expected to follow suit, with each country predicted to produce a significant number of electric vehicles by 2023.
Leading markets
China accounts for the highest production and sales of electric vehicles throughout the Asia-Pacific region. The country has displayed constant increases in its electric vehicle production. Alongside China, Japan’s production of electric vehicles has increased dramatically from 2009 onwards. South Korea has also exhibited increasing electric vehicle sales. Together, these three countries have been leading the Asia-Pacific electric vehicle manufacturing industry.
The push for electric vehicles
It is widely known that electric vehicles are better for the environment. With the manufacturing process taken into consideration, electric vehicles still produce less emissions than vehicles fueled by petrol or diesel. In a region where transport was the third highest producer of carbon dioxide emissions, Asia-Pacific has been encouraging the adoption of electric vehicles. In some cases, governments have even offered incentives in an attempt to persuade consumers to opt for electric vehicles in the future. Singapore is just one of the countries which have promised tax rebates and reductions in order to entice the purchase of electric vehicles, with hopes to phase out conventional vehicles by 2040. Monetary savings do in fact appear to be winning over consumers to make the switch from conventional cars to electric vehicles.
Leading markets
China accounts for the highest production and sales of electric vehicles throughout the Asia-Pacific region. The country has displayed constant increases in its electric vehicle production. Alongside China, Japan’s production of electric vehicles has increased dramatically from 2009 onwards. South Korea has also exhibited increasing electric vehicle sales. Together, these three countries have been leading the Asia-Pacific electric vehicle manufacturing industry.
The push for electric vehicles
It is widely known that electric vehicles are better for the environment. With the manufacturing process taken into consideration, electric vehicles still produce less emissions than vehicles fueled by petrol or diesel. In a region where transport was the third highest producer of carbon dioxide emissions, Asia-Pacific has been encouraging the adoption of electric vehicles. In some cases, governments have even offered incentives in an attempt to persuade consumers to opt for electric vehicles in the future. Singapore is just one of the countries which have promised tax rebates and reductions in order to entice the purchase of electric vehicles, with hopes to phase out conventional vehicles by 2040. Monetary savings do in fact appear to be winning over consumers to make the switch from conventional cars to electric vehicles.
