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ASEAN for Business – ASEAN as Market and Regional Manufacturing Hub for Electric Vehicle

Transforming the transportation sector to be more sustainable becomes indispensable as ASEAN is gearing toward further economic development while remaining committed to the Paris Agreement. In ASEAN, the demand for transport is estimated to increase by 60% from 2013 to 2040 due to the region’s rapid development. Nonetheless, this growth becomes a double-edged sword as over 90% of the ASEAN transport sector remains dependent on fossil fuel. The growth of transportation is expected to increase annual energy consumption by 2,6% in a business-as-usual scenario and reach 238 million tonnes of oil equivalent (Mtoe) by 2035. The 6th ASEAN Energy Outlook 2017-2040, by the ASEAN Centre for Energy, reported that ASEAN’s energy related greenhouse gas (GHG) emissions will increase by 34-147% between 2017 and 2040.

Continue reading the article here: ASEAN for Business Bulletin – June 2022


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