Southeast Asian countries and India are preparing to catch up with their partners in North Asia, to fulfill the high-rising EV demand. With profound reserves of raw materials - nickel, copper, manganese, and aluminum, countries like Indonesia and Malaysia, are in good positions to develop their EV and EV battery industries. If manufacturing technology, government policy, and infrastructure are ready, the region shall grow exponentially in the future.
Malaysia has the potential to be one of the key players in the EV battery supply chain, especially in regards to raw materials or second-hand raw materials. Thailand has become one of the world’s leading automotive supply chains because of its policy, infrastructure, and industrial clusters. With India’s EV demand growing higher, a series of Make-in-India initiatives launched by the Indian government, followed by interests from companies of all sizes, investment in the EV supply chain in India is increasing.
Relying on collaborative culture, empowered talent pools, a supportive funding environment, and a comprehensive EV policy, Singapore has a unified EV battery innovation ecosystem.
Overall, in Southeast Asia and India, the foreign investors from world-leading carmakers and battery manufacturers, especially from China, Japan, South Korea, have played a very crucial role to stimulate their local EV industry development. It takes more time to see how their local governments can successfully leverage foreign investments to boost their local industries.
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