Hong Kong amongst top APAC countries with high EV discussion

Over 124 companies are discussing EV in Hong Kong.

Amidst energy crunch, electric vehicle (EV) discussions are high in APAC, including Hong Kong, which recorded 124 firms in talks about the EV adoption.

In a report, GlobalData said EV is considered a more sustainable option due to it being zero-emission that can aid in global decarbonisation.

According to GlobalData’s Company Filings Analytics Database, the top five APAC countries with EV discussions are India (320), China (154), followed by Australia (128), Hong Kong (124), Taiwan (99), and Japan (68).

Region-wide, EV talks grew 28% year-on-year in 2022. EV-related infrastructure is also gaining attention as companies invest in battery manufacturing and hydrogen fuel cell EVs.

Hong Kong-based CLP Holdings recently discussed a joint venture with the manufacturer of smart equipment Qingdao TGOOD Electric Company for launching electric vehicle charging networks. 

India-based Mahindra and Mahindra is planning to have a lineup of five electric SUVs by 2026-2027, and Chinese automotive retail and services company Zhongsheng Group Holdings reported a 54% increase in EV sales in the first half of 2022. 

Japanese automobile giant Suzuki Motor Corp is investing $100 million in EVs and battery manufacturing by 2025.