With the right measures, Southeast Asia could see a post-pandemic EV revolution

Published onJuly 30, 2020

The Covid-19 crisis has caused a global economic slowdown, wiped value off stock markets and led to job layoffs. With mobility restrictions urgently imposed to limit the transmission of the coronavirus, events cancelled, consumers’ spending power affected and the public having to adopt new routines and behaviour amid the pandemic, the automotive and transportation industry is facing tough times. According to the International Energy Agency (IEA), global passenger vehicle sales were down by 15 per cent in the first quarter of 2020. On the supply side, industrial closure and supply chain disruption affected production lines. Post-pandemic, vehicle manufacturers are looking at a long recovery period. The continuation of Covid-19 mitigating measures—social distancing, lockdowns, quarantines and temporary closure of non-essential businesses—could shackle energy demand, keeping the oil prices low. This will hinder the energy transition, including the adoption of electric vehicles (EVs).

Source: https://www.eco-business.com/opinion/with-the-right-measures-southeast-asia-could-see-a-post-pandemic-ev-revolution/