Part 7/10:
As of mid-2023, the number of electric vehicles on the roads remains relatively small in some regions. For instance, Singapore's Land Transport Authority reported only 1,549 EVs in circulation—about 0.24% of the total vehicle population. Nonetheless, the numbers are steadily increasing, with a growth rate of approximately 38% since 2019.
In ASEAN countries and other developing nations, adoption rates tend to be slower due to affordability issues and infrastructural limitations. In some cases, consumers prioritize motorcycles over cars, and the high cost of EVs remains a barrier despite decreasing prices driven by technological advances and economies of scale.