Asia-Pacific Passenger Electric Vehicle Market Size & Share 2026-2035

Asia-Pacific Passenger Electric Vehicle Market Size

The Asia-Pacific passenger electric vehicle market generated USD 417.9 billion from 16,526,941 new passenger vehicles in 2025. It is projected to reach USD 931.5 billion by 2035, expanding at an approximately 8.5% value CAGR from 2026 to 2035; volume is expected to rise from 17,390,371 units in 2026 to 32,073,220 units in 2035. The value trajectory reflects a market moving from China-led scale formation toward a more uneven regional expansion, rather than a uniform technology substitution cycle.

Battery supply is the central economic lever. China's concentration in cathode-active-material processing and LFP cell production gives its OEMs privileged access to a chemistry that the International Energy Agency identifies as more than 20% cheaper to produce than comparable NMC cells ^{[1]International Energy Agency, Trends in electric vehicle batteries, Global EV Outlook 2024, iea.org}. Global battery-pack prices fell 20% in 2024 to USD 115/kWh, while the China average reached USD 94/kWh ^{[2]BloombergNEF, Lithium-Ion Battery Pack Prices See Largest Drop Since 2017, Falling to $115 per Kilowatt-Hour, bnef.com}. That differential matters beyond vehicle sticker prices: it supports faster product refreshes, permits lower-margin entry models, and makes vertical integration an operating advantage rather than simply a procurement preference.

The market spans battery producers, component and software suppliers, OEMs, distribution channels, fleet operators, and private buyers. Integration is changing the allocation of value across that chain. OEMs with proprietary packs, power electronics, and software can coordinate vehicle design with cell availability and cost, while brands reliant on external supply face more exposure to battery-price movements and qualification cycles. Battery swapping, predictive battery-health tools, and early vehicle-to-grid pilots add optionality, but their commercial relevance remains dependent on compatible vehicles, grid rules, and dense local infrastructure.

Sustainability requirements are also becoming an industrial variable. Factory energy sourcing, battery recycling, and lifecycle reporting increasingly affect export-market access and procurement decisions. The practical consequence is that low-cost production alone is insufficient for durable regional positioning; manufacturers must also demonstrate a credible path through material sourcing, manufacturing energy use, and end-of-life battery management.

The other covered markets are still defining the conditions for mass adoption. Their higher growth rates reflect lower penetration, but demand remains more sensitive to financing, local assembly, and charger availability. The regional headline CAGR therefore masks a strategic split: China rewards manufacturing and cost discipline, while India and much of Southeast Asia reward selective capacity commitments paired with affordable products and credible charging access. Treating these markets as one commercial territory would obscure the different sources of risk.

SUVs remain the largest vehicle category, while mid-range models carry the fastest price-segment growth at 10.50% through 2035. China supplies the scale anchor, whereas India's 11.61% CAGR and Myanmar's 13.54% CAGR point to a larger role for markets where local production, affordability, and infrastructure execution remain unsettled.

Key Drivers

Government incentives and regulatory mandates

Policy is converting EV demand from an aspirational objective into a product-planning constraint. China's trade-in support and NEV policy helped underpin 12.866 million NEV sales in 2024, up 35.5% year over year ^{[3]AP News, China's electric car sales grew in 2024, apnews.com}. India's PM E-DRIVE program delivered approximately 1.13 million EV sales in its first year against a 1.19 million target, despite lower per-unit support than FAME-II. These programs influence both the buyer's payment decision and the OEM's willingness to localize models.

Thailand's EV 3.5 framework pairs purchase support with local-production conditions, making incentives a tool for industrial relocation rather than only demand stimulation. Australia's New Vehicle Efficiency Standard, operational from January 2025, similarly changes product allocation by attaching compliance consequences to emissions performance. The common mechanism is predictable: when incentives or standards alter the economics of marginal models, OEMs advance launches, redirect inventory, and build local assembly plans around the resulting demand signal.

Charging infrastructure and utilization economics

Charging density determines whether a vehicle's advertised range translates into useful mobility. China added 4.222 million charging points in 2024, taking its total to 12.82 million; the IEA estimates that China added roughly 850,000 public points during the year. This scale reduces the practical penalty for apartment-dwelling buyers and supports high-utilization commercial fleets.

Infrastructure does not need to be identical across markets to change adoption. South Korea's hydrogen network supports a distinct FCEV proposition, while India's public-charging rollout and urban corridor deployment matter most for confidence in everyday BEV use. The commercial payoff accrues to OEMs and charging operators that can turn infrastructure access into a visible, reliable ownership proposition rather than an abstract count of installed chargers.

Battery costs and regionalized supply chains

The 2024 decline in battery prices improved the feasibility of mass-market models, but the benefit is not evenly distributed. China's USD 94/kWh average pack price gives locally integrated OEMs an earlier route to price parity than brands importing cells or packs. LFP's cost advantage reinforces this gap because chemistry choice, cell supply, and vehicle architecture are increasingly linked.

Outside China, local cell and pack investment can reduce logistics exposure and qualify vehicles for domestic-policy benefits. Its near-term importance is greatest in India and Southeast Asia, where local assembly can bridge price-sensitive demand and regional supply chains. These investments will not erase upstream concentration quickly, but they can improve model economics and delivery reliability where import dependence is still a constraint.

Urban pollution and fuel-cost exposure

Dense cities concentrate the case for passenger electrification. Short daily trips reduce the operational relevance of maximum range, while fuel expenditure and local air-quality concerns give policymakers a reason to support zero-tailpipe-emission transport. The IEA has identified affordability as a central issue for EV uptake in emerging and developing economies, where electric models must compete with lower-cost conventional alternatives.

For buyers, this driver is strongest when electricity pricing, home or workplace charging, and vehicle financing align. It is therefore more consequential in urban China, Singapore, and selected Indian cities than in markets where the same vehicle faces weak grid access or expensive finance. Fuel savings can support demand, but they cannot independently solve the acquisition-cost barrier.

Key Restraints

High upfront cost in emerging markets

Battery-cost deflation has not eliminated the financing gap faced by households in India and Southeast Asia. India recorded about 99,000 electric passenger-car and SUV sales in 2024, or roughly 2.5% of passenger-car sales, despite strong growth in the broader EV market ^{[4]Autocar India, 2024 sees highest-ever electric car and SUV sales with 99,000 units, autocarindia.com}. This illustrates the distinction between electrification across vehicle classes and mass adoption in the passenger-car category, where monthly payments and resale confidence remain decisive.

The restraint is especially acute at the entry end of the market. A lower-cost vehicle cannot rely on lifetime fuel savings if the buyer cannot clear the initial finance threshold. Domestic assembly, standardized packs, and product-specific financing can narrow the gap, but their effectiveness will vary with local income levels and incentive continuity.

Uneven charging access beyond major cities

The existence of a national network does not ensure geographically useful coverage. Even China's large charging base is concentrated around major cities, and the IEA notes the importance of public fast charging to enable longer-distance travel. In archipelagic Indonesia, dispersed Thailand, and markets where grid reliability varies, a consumer evaluating intercity travel faces a different decision from an urban apartment resident.

This is a coordination problem as much as a capital problem. Low-utilization corridors may not attract private charging investment, while public programs must coordinate sites, grid connections, and operating reliability. OEMs that package vehicles with charging partnerships or battery-service models can reduce this friction, but the underlying infrastructure gap will continue to shape who adopts first and where.

That distinction makes adoption geographically selective. Entry-level models may unlock demand in dense cities before they become viable in rural corridors, while fleet operators can move faster than private buyers where depots provide controlled charging. The most resilient commercial strategies will therefore combine a vehicle-price response with a targeted energy-access strategy rather than assume that battery-cost declines alone will broaden the addressable market.

Asia-Pacific Passenger Electric Vehicle Market Segment Analysis

By Vehicle

Hatchback

Hatchbacks generated USD 53.22 billion in 2025 and are projected to reach USD 102.46 billion by 2035, a 7.01% CAGR. Their lower transaction values constrain revenue growth, yet their compact format fits urban markets where short trips and parking constraints are more important than long-range capability. This is the segment in which affordable electrification can reach buyers excluded from mid-range models, particularly when local assembly and tax treatment reduce the initial payment.

Sedan

Sedans accounted for USD 103.34 billion in 2025 and are expected to reach USD 237.27 billion by 2035, growing at 8.86%. The category benefits from a mix of efficient aerodynamic formats and mid- to premium-price positioning. Its commercial relevance lies in the ability to pair range efficiency with higher specification levels without the full material and weight burden of a large SUV.

SUV

SUVs led the market with USD 237.65 billion and a 56.9% share in 2025, rising to USD 530.94 billion by 2035. Their 8.64% CAGR reflects broad consumer acceptance in China and the utility requirements of ANZ and India. Because SUVs span entry through luxury price points, they are also the principal arena in which OEMs can spread common battery and software platforms across several margins and configurations.

Others

Other body styles, including MPVs, crossovers, and specialty passenger configurations, represented USD 23.69 billion in 2025 and are forecast to reach USD 60.81 billion at a 9.20% CAGR. Their faster growth reflects use cases that standard sedans and SUVs do not address cleanly, including organized mobility and passenger-capacity requirements. The category provides a route to fleet-oriented design differentiation rather than merely another retail body style.

By Drive

Front-wheel drive

Front-wheel-drive vehicles held USD 257.51 billion, or 61.6% of value, in 2025 and are forecast to reach USD 512.31 billion by 2035. Their 7.30% CAGR reflects the configuration's role in cost-conscious, high-volume platforms. It remains important to volume formation, but its lower price realization means that its revenue mix will be diluted as higher-specification configurations expand.

Rear-wheel drive

Rear-wheel-drive vehicles totaled USD 94.61 billion in 2025 and are projected to reach USD 242.18 billion, a 10.03% CAGR. Dedicated EV architectures often make rear-drive layouts attractive for packaging and driving dynamics. The growth premium therefore reflects both platform design and the concentration of RWD in mid-range and premium models, where buyers place greater value on performance and range efficiency.

All-wheel drive

All-wheel drive reached USD 65.78 billion in 2025 and is anticipated to grow to USD 176.98 billion at a 10.63% CAGR. Dual-motor systems place AWD in a higher-value tier and make it relevant to performance, premium SUVs, and weather-sensitive markets. The segment's growth is a revenue-mix signal: it indicates increasing willingness to pay for capability and software-controlled performance, not simply rising electric-vehicle volumes.

By Propulsion

Battery electric vehicle (BEV)

BEVs dominated with USD 320.15 billion, or 76.6% of market value, in 2025 and are forecast to reach USD 615.59 billion by 2035. Their 6.95% CAGR is lower than the market rate because of their large base, not a loss of strategic relevance. Their cost position is supported by LFP adoption and Chinese scale, while competitive differentiation is shifting toward charging convenience, vehicle software, and portfolio breadth.

Fuel cell electric vehicle (FCEV)

FCEVs represented USD 97.45 billion in 2025 and are projected to reach USD 314.18 billion at a 12.48% CAGR. Japan and South Korea provide the key institutional support, but their paths diverge: South Korea's hydrogen network supports Hyundai's passenger-FCEV ecosystem, whereas Japan's station base has contracted to roughly 149 operational sites, contributing to weak sales ^{[5]Automotive World, FCEV sales in Japan fall 83% as refuelling stations close, automotiveworld.com}. FCEV growth should therefore be read as policy- and infrastructure-dependent, with a potential role in high-utilization passenger applications rather than as a universal BEV substitute.

Plug-in hybrid electric vehicle (PHEV)

PHEVs accounted for USD 0.31 billion in 2025 and are projected to reach USD 1.71 billion, a 17.46% CAGR from a very small base. Their value lies in markets where buyers need electric driving for routine travel but retain a combustion backup for uncertain charging access. The high growth rate should not be confused with mass-market scale; it represents expansion from limited starting penetration.

By Application

Personal

Personal purchases generated USD 336.11 billion in 2025 and are expected to reach USD 707.92 billion by 2035. The segment's 7.92% CAGR reflects China's maturation alongside earlier-stage adoption elsewhere. Personal buyers are more exposed than fleets to financing, charging confidence, and changes in purchase incentives, which makes product positioning and dealer or direct-sales support central to conversion.

Commercial

Commercial applications totaled USD 81.79 billion in 2025 and are forecast to reach USD 223.56 billion at a 10.76% CAGR. Fleet buyers can evaluate vehicles against predictable mileage, depot charging, and total operating cost rather than retail anxieties alone. This creates a relatively favorable route to electrification for ride-hailing, corporate mobility, and public procurement, provided utilization is high enough to recover charging and vehicle investments.

By Price

Entry

Entry-level EVs led with USD 191.28 billion and a 45.8% share in 2025, but are projected to grow at the slowest price-segment rate, 6.20%, to USD 344.65 billion. The category will remain essential to unit adoption, especially in dense Asian cities, even as its revenue share declines. Its viability depends on disciplined bill-of-materials control and finance structures that bring the monthly payment close to the conventional-car alternative.

Mid-range

The mid-range category generated USD 163.57 billion in 2025 and is forecast to reach USD 437.80 billion at a 10.50% CAGR. This is the central competitive battleground because it absorbs buyers upgrading from entry EVs and those moving from premium ICE vehicles toward feature-equivalent electric models. Local battery supply and competitive financing can have an outsized impact here because battery cost still represents a large share of the vehicle's value proposition.

Luxury

Luxury EVs represented USD 63.06 billion in 2025 and are projected to reach USD 149.04 billion at a 9.32% CAGR. The category supports higher realization for AWD, long-range, and advanced software features, particularly in China, Japan, South Korea, Singapore, and ANZ. Its risk is that performance and technology advantages can become quickly comparable across brands, raising the importance of service, charging experience, and residual-value confidence.

The fastest-growing categories are not interchangeable opportunities. Mid-range value growth requires credible affordability for upper-middle-income buyers, while commercial growth requires vehicle uptime and depot or corridor charging. Manufacturers that use one platform across vehicle types and price points can preserve scale economics, but their pricing and channel choices must still fit the specific adoption condition of each arena.

Asia-Pacific Passenger Electric Vehicle Market Regional Analysis

China

China generated USD 284.95 billion in 2025, or 68.2% of regional value, and is forecast to reach USD 617.57 billion by 2035 at an 8.23% CAGR. Its scale is reinforced by 12.866 million NEV sales in 2024 and a 40.9% new-vehicle penetration rate. Charging expansion and integrated battery supply make China the region's pricing and product-development reference point. The strategic issue is no longer establishing demand; it is protecting margins as model proliferation and cost competition intensify.

India

India's market stood at USD 28.17 billion in 2025 and is projected to reach USD 83.83 billion at an 11.61% CAGR. Policy continuity and domestic OEM investment support expansion, but passenger-EV penetration remains low relative to the overall vehicle market. VinFast opened its Tamil Nadu facility in August 2025 with initial annual capacity of 50,000 units, adding an export-oriented manufacturing element to India's domestic transition ^{[6]AP News, Vietnam automaker VinFast opens factory in India, apnews.com}. India's opportunity is large, but realization depends on affordable products, financing, and reliable charging beyond a limited group of cities.

Japan

Japan totaled USD 25.48 billion in 2025 and is expected to reach USD 46.57 billion, a 6.36% CAGR. The Green Growth Strategy provides direction toward zero gasoline-only new passenger-car sales by the mid-2030s, yet hybrid incumbency and the contraction of hydrogen refueling infrastructure complicate the transition. The country's FCEV experience shows that policy ambition must be matched by operating infrastructure; otherwise, vehicle availability cannot sustain demand.

South Korea

South Korea reached USD 21.29 billion in 2025 and is forecast to attain USD 37.26 billion at a 5.88% CAGR. Hyundai and Kia's dedicated EV architectures give domestic OEMs a strong platform base, while South Korea's hydrogen infrastructure provides an unusual foundation for passenger FCEVs. The Korea Herald reported 221 hydrogen refueling stations, making the country's ecosystem materially different from Japan's ^{[7]Korea Herald, Will new Nexo revive shrinking hydrogen mobility push?, koreaherald.com}. Competition from imported Chinese BEVs will test how effectively domestic brands translate technical capability into price and service differentiation.

Australia

Australia forms part of the USD 10.19 billion ANZ market in 2025, forecast to reach USD 27.94 billion at a 10.76% CAGR. The NVES creates a compliance incentive for manufacturers to supply lower-emission models and makes EV allocation more consequential to their broader portfolio economics. Its high-income urban centers support premium adoption, but model availability and charging coverage will determine how broadly demand extends beyond those centers.

New Zealand

New Zealand is also included in the ANZ total of USD 10.19 billion in 2025 and USD 27.94 billion in 2035. The Clean Car Standard gives importers a recurring emissions signal, while the country's emphasis on fast charging suits longer intercity travel patterns. As a small import-dependent market, New Zealand is especially sensitive to global model allocation and policy consistency rather than domestic production scale.

Taiwan

Taiwan generated USD 6.39 billion in 2025 and is projected to reach USD 11.18 billion at a 5.88% CAGR. Its electrification policy and semiconductor and power-electronics base create an adjacent industrial advantage in charging, inverters, and battery-management systems. Regulatory restrictions on Chinese imports also make Taiwan's competitive structure less directly comparable with Southeast Asian import markets.

Indonesia

Indonesia reached USD 12.34 billion in 2025 and is forecast to grow to USD 31.67 billion at a 10.06% CAGR. Its low-carbon vehicle regulation supports qualifying EVs, while nickel resources give the country a strategic rationale to attract battery investment. BYD's planned USD 1 billion Subang facility, with 150,000 units of annual capacity, is intended to deepen local production. Indonesia's archipelagic geography remains a practical limit on charging-network standardization, making localized demand clusters more likely than uniform national adoption.

Thailand

Thailand generated USD 14.58 billion in 2025 and is expected to reach USD 33.53 billion at an 8.88% CAGR. EV 3.5 conditions incentives on local production, and BYD opened its 150,000-unit Rayong facility in July 2024. This links vehicle demand to ASEAN export economics and positions Thailand as a manufacturing hub rather than solely an import destination.

Singapore

Singapore's USD 3.95 billion market in 2025 is forecast to reach USD 13.04 billion at a 12.67% CAGR. Incentives reduce the acquisition premium, while short travel distances and the 2040 internal-combustion-engine phaseout direction reduce range uncertainty. BYD surpassed Tesla in Singapore EV sales in the first half of 2024, demonstrating how price positioning can quickly affect share in a tightly regulated, high-income market.

Philippines

The Philippines totaled USD 2.06 billion in 2025 and is projected to reach USD 5.12 billion at a 9.69% CAGR. EVIDA improves the policy framework through import and registration measures, but charging remains concentrated around major urban centers. Consumer affordability and usable infrastructure, rather than vehicle availability alone, will determine the pace of passenger-EV adoption.

Vietnam

Vietnam generated USD 3.80 billion in 2025 and is forecast to reach USD 7.45 billion at a 7.13% CAGR. VinFast's domestic scale and proprietary charging approach have created an ecosystem-led route to adoption; Reuters reported approximately 97,000 VinFast deliveries in 2024, with about 90% in Vietnam. The country's trajectory is therefore closely tied to the execution of one domestic champion and the durability of its charging network.

Malaysia

Malaysia stood at USD 1.44 billion in 2025 and is expected to reach USD 3.73 billion at a 10.16% CAGR. Duty treatment under the Low Carbon Mobility Blueprint supports demand, while local assembly could improve price competitiveness. BYD announced a Tanjung Malim plant in August 2025, with production expected in 2026. The market's scale remains modest, but localized manufacturing could alter the price and distribution calculus.

Myanmar

Myanmar generated USD 1.17 billion in 2025 and is forecast to reach USD 4.19 billion, the region's fastest CAGR at 13.54%. The growth rate is a base-effect outcome in an early-stage market with constrained charging and limited domestic availability. Its eventual trajectory depends on whether lower-cost Chinese and ASEAN-built vehicles can reach consumers at workable prices and whether policy execution improves the operating environment.

The most consequential cross-border change is the expansion of Chinese OEM manufacturing into ASEAN. It can lower entry prices and shorten supply chains, but it also raises the competitive threshold for Japanese, Korean, and domestic incumbents. Markets that connect incentives to credible local capacity may capture more than near-term sales; they may influence the regional allocation of future EV platforms and battery investment.

Asia-Pacific Passenger Electric Vehicle Market Share & Competitive Landscape

The market combines Chinese scale leaders, globally recognized BEV brands, Korean technology specialists, Japanese incumbents managing portfolio transitions, and domestic challengers in India and Southeast Asia. BYD Auto held 19.6% of regional value in 2025, followed by Chery Automobile at 10.8% and Tesla at 10.7%. The concentration of the leaders reflects the importance of scale, price discipline, and access to battery supply rather than a single universal product formula.

BYD Auto leads through vertical integration, an LFP-centered battery strategy, and a portfolio that reaches from entry models to premium vehicles. Its Thailand plant opened with 150,000 units of annual capacity, and its Indonesia plan extends the same manufacturing logic into a second ASEAN base ^{[8]Reuters, China's BYD opens EV factory in Thailand, first in Southeast Asia, reuters.com}. Geely Automobile uses a multi-brand architecture to address mainstream and premium positions, including an established strategic link to Malaysia through Proton. Hyundai Motor and Kia use dedicated EV platforms and charging capability to compete at mid-range and premium price points, while Hyundai maintains a differentiated FCEV position in South Korea.

Li Auto addresses premium Chinese demand through extended-range electric vehicles, positioning range flexibility as a response to consumer charging concerns. Nissan Motor brings early BEV experience but must renew its product cycle against dedicated-platform competitors. SAIC Motor benefits from a broad brand and export footprint, including MG, Roewe, and its Wuling joint-venture connection. Tesla remains a scale competitor anchored in Model 3 and Model Y, though Reuters reported that its 2024 global sales fell year over year as Chinese competitors intensified price and model pressure ^{[9]Reuters, How China's new auto giants left GM, VW and Tesla in the dust, reuters.com}. Toyota Motor is managing the shift from hybrid strength toward BEV and FCEV offerings, while XPeng Motors differentiates in the Chinese upper-mid market through software and driver-assistance capabilities.

Aion (GAC Aion) held 3.2% regional share in 2025 and competes in China's entry-to-mid range. Changan, at 1.7%, uses its Deepal brand and domestic scale in the same strategic space. Honda Motor is expanding dedicated BEV activity in China while retaining an FCEV role in Japan. Mahindra Electric Mobility and Tata Motors are central to India's passenger-EV contest: Tata held 62% of India's electric passenger-car market in 2024, while Mahindra is seeking to build a higher-value SUV position. Maruti Suzuki India can bring dealer and service reach to mass-market EV adoption as its first BEV enters the market. Mitsubishi Motors retains PHEV recognition through Outlander, particularly in ANZ. Wuling, with a 1.5% regional share, remains a reference point for low-cost mini-EV positioning.

BAIC Motor (BJEV) brings fleet and urban-EV experience from China. Chery Automobile combines its 10.8% regional share with an export-oriented, price-competitive approach; Reuters identified Chery alongside BYD among China's rapidly expanding auto groups. VinFast is the most visible Southeast Asian challenger, using domestic Vietnam volumes, charging access, and new overseas manufacturing to establish a regional footprint. Its India plant adds a route into both South Asian demand and export supply.

Competitive advantage is becoming more location-specific. In China, integration and rapid product iteration are decisive. In India and ASEAN, the ability to combine local assembly, financing, and after-sales confidence may be more important than a narrow technical lead. The companies that can carry a common platform across these settings while adapting price, charging, and channel models will have the strongest ability to convert regional growth into durable share.

Recent Industry Developments

BYD opens Thailand manufacturing plant (July 2024). BYD opened its USD 490 million Rayong facility, its first production plant in Southeast Asia, with 150,000 units of annual capacity for BEVs and plug-in hybrids.

BloombergNEF reports a sharp battery-price decline (December 2024). BloombergNEF reported that global lithium-ion battery-pack prices fell 20% to USD 115/kWh in 2024; China's average reached USD 94/kWh.

BYD advances Indonesia manufacturing investment (January 2025). BYD confirmed that its USD 1 billion Subang factory was targeted for completion by the end of 2025, with planned annual capacity of 150,000 vehicles.

Australia implements the NVES (January 2025). Australia's New Vehicle Efficiency Standard took effect on 1 January 2025, with compliance consequences beginning later that year.

India's PM E-DRIVE reaches its first-year target range (2024–2025). CEEW reported that the scheme enabled roughly 1.13 million EV sales against an approximately 1.19 million first-year target.

Hyundai confirms next-generation NEXO timing (2025). Hyundai confirmed a next-generation NEXO FCEV for Japan in the first half of 2026; the vehicle is positioned around a range exceeding 826 km and a refueling time of about five minutes.

China's charging base reaches 12.82 million points (end-2024). EVCIPA data reported a 49% year-over-year increase in charging points, with 4.222 million additions during 2024.

Mahindra launches BE 6 and XEV 9e in India (early 2025). Mahindra introduced the BE 6 and XEV 9e electric SUVs, extending competition in India's higher-value EV segment.

BYD announces Malaysia assembly plans (August 2025). BYD announced plans for a Tanjung Malim, Perak assembly facility, with production expected in 2026.

VinFast opens its India facility (August 2025). VinFast opened its Tamil Nadu plant with initial annual capacity of 50,000 units, scalable to 150,000 units.