Chinese electric two-wheeler exports to Southeast Asia soared in Q1, driven by fuel shortages and rising prices, according to Caixin.
Exports of Chinese electric two-wheelers to Southeast Asia rose sharply in the first quarter as fuel shortages and rising prices drove demand for alternatives, reported Caixin.
Shipments to Myanmar jumped 617.5 percent year on year to CNY 64.7 million (US$ 9.5 million). Exports to Laos rose 25.7 percent to CNY 43.5 million, while Cambodia saw a 34.2 percent increase to CNY 38.2 million.
Myanmar's demand was spurred by tight fuel supplies. On March 7, the government introduced an odd-even license plate rationing system for cars and petrol motorcycles, exempting electric vehicles.
Similar trends are emerging in Laos and Cambodia. The Lao government cut its fuel consumption tax on March 18 and reduced university classes nationwide to three days a week to ease pressure.
In Cambodia, fuel costs have soared since the Middle East conflict began, with gasoline up 41.5 percent, diesel 84 percent, and liquefied petroleum gas 60 percent.
Rising energy costs across the region are expected to sustain demand for electric two-wheelers, positioning Chinese manufacturers to expand their market share.
