News Snapshot:
For many middle-class families, a car is a big-ticket purchase requiring careful consideration. This was indeed the case for Eric Lim, a 32-year old recruiter, who needed to meet the growing transportation needs of his family of four. It took three showroom visits before he finally bought his first electric vehicle (EV) from a Chinese brand — joining a tiny minority of car owners in Singapore. A nascent market Southeast Asia’s EV market is about to enter a phase of rapid growth. According to market research firm Mordor Intelligence, the ASEAN EV market was valued at US$500 million in 2021,...
