ASEAN HEADLINE-Business | Cambodia aims to have 800,000 EVs by 2030
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The Cambodian government has unveiled a target of having 800,000 electric vehicles (EVs) on roads by 2030 under the recently announced EV development policy.
The National Policy on the Development of Electric Vehicles 2024-2030 will help improve the environment, economy, energy security and access to new technologies in line with regional and global trends toward a green industry.
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The policy will contribute to the development of the EV sector in Cambodia and the use of electric vehicles, besides attracting investors to the sector.
The use of electric vehicles is more economical than the use of fuel-efficient vehicles. Electric vehicles are about five to six times more efficient than petrol engines in converting energy into motion, resulting in lower mobility costs, according to the policy.
Electric vehicles will bring many benefits in terms of environment, economy, security, energy and especially access to new technologies in line with regional and global trends, said Phan Rim, spokesman at the Ministry of Public Works and Transport.
“The policy is a tool of the Royal Government to promote the development of electric vehicles in Cambodia,” Rim told Khmer Times yesterday.
Economically, the policy seeks to unlock new opportunities. The EV industry is a rapidly growing sector, and Cambodia is poised to capitalize on this trend.
Cambodia registered 1,614 electric vehicles (EVs) as of June 2024, a report of the Ministry of Public Works and Transport said. This includes 658 BYD, 261 Toyota, and 186 Tesla EVs – the three most popular EV brands in Cambodia.
According to the ministry, the Kingdom has registered 914 electric scooters and 440 three-wheeler electric vehicles as well.
The use of EVs is a new trend as there are benefits such as low daily costs, comfort and low pollution levels, Rim said.
“Registration of electric vehicles increases every day, reflecting people are optimistic and showing high interest in the use of electric vehicles in Cambodia,” the spokesman said.
In anticipation of the growing trend, the Royal Government of Cambodia through the Ministry of Public Works and Transport and other relevant ministries and institutions has made efforts to improve the number of charging stations and other favourable conditions, he said.
Currently, EV charging stations are available at 18 locations in the country.
The number of people using EVs has increased significantly as users have started realizing their benefits, particularly emission reduction, said Udom Pisey, EV Manager of Car4You, a local auto firm selling EVs imported from China.
“People are interested in EVs because they are aware of benefits such as saving the cost of gasoline and spare parts compared to normal vehicles,” Pisey told Khmer Times.
As the Cambodian Government launched the policy to accelerate the development of the electric vehicle sector, BYD has expressed its intention to start an electric vehicle assembly plant in Cambodia.
The policy will encourage the development of a domestic EV ecosystem, creating jobs in manufacturing, sales and maintenance, Lim Heng, Vice President of the Cambodia Chamber of Commerce, said.
“Launching this policy will contribute to attracting investment to the EV manufacturing in the country and aligning the country with regional and global trends towards a green industry,” Heng said.
