Vehicle Electrification and Battery Strategies in ASEAN

Four-wheel vehicle manufacturers, two-wheel vehicle manufacturers, battery manufacturers

Fueled by global trends of carbon neutrality and political speculations, battery electric vehicles (BEVs) have gathered praises for the past few years. However, the expectations for overheated BEV boom have fallen, after facing the reality such as the end of subsidies and the gap in user friendliness from internal combustion engine vehicles.
Mercedes-Benz has retracted its aim to be fully electric by 2030, GM and Ford have decided to postpone or reduce the production of EV models for pick-up trucks, Apple has gone back to the drawing board after a decade of EV development plan. Tesla, that drove the market, reduced both the revenues and profits for Q1 2024 with negative growth for the first time since COVID crisis. With the shrinkage of profits, the CEO, Elon Musk, has warned that EV demand would decelerate in 2024.
Major markets, except for China, has explicitly been dispirited, showing the difficulty in shifting to EVs. However, Chinese manufacturers are exploring the markets outside its own country. Shifting to electric vehicles is a good opportunity for countries that do not have their own automobile industry, and the global EV rate is projected to rise in the long run. 
The report is multilateral material by providing the current status of ASEAN market that can be said as the stronghold for the Japanese automakers, being the target of EV promotions by Chinese and local manufacturers, not only covering four-wheel vehicles but also two-wheel vehicles, as well as automotive battery supply chains.

I    Market Environment Summary for Each ASEAN Country

1. ASEAN May Be the Center of the World
2. Summary of Macro-Based Information on Economy
3. Structural Properties of ASEAN Automobile Industry
4. Trend of Automobiles in Each of ASEAN Countries
5. Trend of Two-Wheel Vehicles in Each of ASEAN Countries
6. Energy Strategy for Entire ASEAN Countries
   - Renewable Energy Status and Perspectives
   - Power Grid
   - Policies and Targets
7. Carbon Neutrality in Entire ASEAN Countries
   - Status and Target for GHG Reduction
   - Trend of Carbon Neutral Fuels
8. Status of Automobile Industry in Each of ASEAN Countries
   1) Thailand
   2) Indonesia
   3) Vietnam
   4) Malaysia
   5) Philippines
   6) Singapore
   7) Cambodia
   8) Laos
   9) Myanmar

 II    Electrification Strategy in ASEAN by Mobility Manufacturer

1. Electrification Strategy by Four-Wheel Vehicle Manufacturers
   1) Toyota and Daihatsu
   2) Honda
   3) Nissan
   4) Mitsubishi Motors
   5) Suzuki
   6) Mazda
   7) Isuzu
   8) Hyundai/Kia
   9) BYD
   10) SAIC
   11) NETA
   12) Tesla
   13) VinFast
   14) Proton
   15) Perodua
2. Electrification Strategy by Two-Wheel Vehicle Manufacturers
   1) Honda (Two-Wheels)
   2) Yamaha Motor
   3) Suzuki (Two-Wheels)
   4) Kawasaki Motors
   5) Bajaj Auto
   6) TVS
   7) VinFast (Two-Wheels)
   8) PT.WAIMA (GESITS)

III    ASEAN Strategy by Battery Manufacturers

1. Strategies in ASEAN by Battery Manufacturers
   1) CATL
   2) LGES
   3) Samsung SDI
   4) Gotion
   5) EVE
   6) Amita Technology (Thailand) Co., Ltd.

IV    Electrification Forecast in ASEAN Market

1. Challenges and Expectations in BEVs in ASEAN Countries
   Challenge 1: Geographic Characteristics
   Challenge 2: Infrastructure
   Challenge 3: Energy
   Challenge 4: Consumption Trends
   Expectation 1: Motorization and Environmental Regulations
   Expectation 2: Removal of Chinese vehicles from the US
                         market
   Expectation 3: Red Supply Chain
   Summary: Current Position and Potential Future of BEVs in
                   ASEAN
   Market Projection Scenarios and Cautions
2. Market Forecast
   1) Forecast of Four-Wheel BEVs
   2) Forecast of Two-Wheel BEVs
   3) Forecast of Automotive Batteries