The US-ASEAN Business Council (US-ABC) actively participates in the annual ASEAN Transport Ministers Meeting, serving as the centerpiece engagement of the US-ABC Supply Chains Committee's efforts to support a more integrated and prosperous ASEAN through efficient, secure, compliant, and competitive supply chains across the region. Recalling and aligning with the ASEAN Leaders’ Declaration on Developing Regional Electric Vehicle Ecosystem, this recommendation paper provides an opportunity to advance ASEAN’s discussions on the pressing issue of accelerating the electrification revolution in ASEAN for a sustainable future.
ASEAN demonstrates significant potential to become a global hub for EV manufacturing, with the EV market expected to grow substantially. The region possesses competitive advantages in EV and component production, leveraging abundant natural resources. However, challenges and regional disparities in various aspects of the EV ecosystem, such as infrastructure development, battery supply chain, standards & regulations, and energy transition in EV adoption, persist— impacting ASEAN's ability to present a unified front globally.
The recommendation paper proposes industry recommendations and global best practices to address these challenges and disparities, supporting ASEAN's ambitions in the global EV arena. Emphasizing the importance of supportive government policies, growing consumer demand, and industry commitment for a thriving EV ecosystem, this recommendation paper is US-ABC’s key deliverable for the 56th Senior Transport Officials Meeting and the 29th ASEAN Transport Ministers Meeting, aiming to create a unified blueprint for the region's sustainable energy transition.