Indian EV firms extend range to SEA

IN FOCUS

In today’s newsletter, we look at:

• Indian EV companies charting expansions to Southeast Asia
• BYD’s breakthrough into the Indonesian EV market

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Hi there,

I’ve always been fascinated by how quickly industries can evolve when the right conditions align. Electric vehicles, for example, were considered a niche product a decade ago, catering to the premium segment rather than targeting mainstream consumers.

Fast forward to today, and EVs are no longer just a trend. They’re a global movement, reshaping how we think about transportation, energy, and urban planning. In Indonesia, for instance, I can now purchase a decent electric car that is cheaper than its gasoline counterpart, and there’s even a ride-hailing service that only uses EVs.

While much of the spotlight on EV development has been on China, the US, and Europe, there’s another market quietly making waves: India. The country’s EV startups, once focused on their massive domestic market, are now setting their sights on Southeast Asia, which is experiencing steady growth in EV adoption.

In this week’s Big Story, my colleague Samreen dives into how Indian EV players like Kazam, Zypp, and Exicom plan to navigate a market already crowded with Chinese giants and local incumbents.

While expansion to Southeast Asia won’t be a walk in the park for these players, some countries may present more challenges than others. For this week’s Hot Take, I take a look at how Indonesia might be one of the hardest markets to crack for EV companies.

– Glenn

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BIG STORY

Why Indian EV players are charging into the SEA opportunity

India is known for its rapidly growing EV market, but that doesn’t stop local startups to look beyond what lies in the domestic trade. Some firms, such as charging platform Kazam, electric scooter provider Zypp, and EV charger manufacturer Exicom, have begun making their way to Southeast Asia.

This is driven by the massive EV market potential that the region may create over the next decade, and this involves all major segments of the industry. There are many other reasons for Indian EV companies to come and have a taste of Southeast Asia, but none can guarantee a smooth journey for them.

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HOT TAKE

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DEEP READS

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EMERGING NEWS

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