Viet Nam has doubled its EV sales share since 2024 to reach close to 40% in 2025, overtaking the UK and the EU for EV sales penetration. Thailand has exceeded 20% EV sales share for the first time so far this year, up from 1% in 2019. Singapore, Thailand and Viet Nam have all reached higher battery electric vehicle sales shares than the EU average.
India, Mexico and Brazil now have a higher EV sales share than Japan, while Indonesia’s EV sales share has reached 15% this year, overtaking the US for EV penetration.
Not a good sign for all the incumbent automakers who are focused on rolling back EV mandates and only building high profit margin vehicles and very high cost EVs.
The really insane part is that Western car makers EVs are pretty cheap in China. Volkswagen sells its ID.3 for 14,400€ in China and 33,330€ in Germany for example. ICE cars would be dead, if they made those offers in Germany.
I think one reason is the manufacturing locale. Europeans have high living costs and high living standards in comparison to Chinese. I’m not certain that’s the whole cost difference though.
You love to see it
