EV market share surges in China and Southeast Asia

Electric vehicle (EV) adoption is accelerating across major Asian markets, led by China and Southeast Asian nations. In July 2026, China's EV market share reached 48.1%, a significant increase from 33.2% in the same month the previous year. When including plug-in hybrids and fuel cell vehicles, New Energy Vehicles (NEVs) accounted for 65.4% of China's domestic new car sales.

In Southeast Asia, Vietnam and Thailand have seen rapid growth, with EV shares reaching 43.1% and 36.5% respectively. In Thailand, Geely Auto achieved its first monthly sales leadership in the EV segment. Laos has taken a drastic step by moving to ban the import of gasoline-powered vehicles following fuel supply concerns linked to Middle East tensions.

While Japan saw a nearly threefold increase in EV sales volume, its market share remained the lowest among the six major Asian countries surveyed at 3.4%. Meanwhile, Malaysia is implementing measures to protect its domestic automotive manufacturers amidst the rising dominance of Chinese EV brands.