PHNOM PENH: The Council for the Development of Cambodia (CDC) is actively promoting Cambodia as an attractive destination for electric vehicle (EV) assembly and manufacturing. The country is keen to capitalize on the growing global demand for EVs and position itself as a regional hub for the industry.
On July 10, 2024, HE. Nuth Un Vanra, Deputy Secretary General of the Cambodian Investment Committee of the Council for the Development of Cambodia (CDC) met with representatives from SUN WAH PROPERTIES (CAMBODIA) CO., LTD. to discuss potential investment opportunities in the EV sector. The meeting followed a recent expression of interest from the Sunwah Group, a major conglomerate, to explore investments in various Cambodian sectors, including EV assembly.
Cambodia is offering a conducive investment climate for the EV industry, with supportive legal frameworks, policies, and incentives. The government has outlined its vision for the sector in the National Policy on Electric Vehicle Development 2024-2030. Additionally, tax breaks and other benefits are available to investors in this field.
The growing popularity of EVs in Cambodia is evident from the increasing number of registrations. As of now, over 2,900 electric vehicles are officially registered in the country, with BYD, TOYOTA, and TESLA leading the market. The government is also working to expand charging infrastructure to support the EV transition.
By attracting investments in EV assembly, Cambodia aims to create jobs, diversify its economy, and contribute to a greener future. The CDC is committed to providing support and facilitating investments in this promising sector.
Another Great News: BYD’s Commitment to Cambodia
In a significant development, BYD Asia Pacific Auto Sales Division has announced plans to construct an electric vehicle assembly plant in Cambodia. The facility, with an annual production capacity of 20,000 vehicles, will cater to both the domestic market and export destinations. This investment underscores Cambodia’s growing attractiveness as a manufacturing base for the EV industry.
BYD, a global leader in electric vehicle technology, has a proven track record and a strong presence in Asia. With manufacturing and assembly plants in China, Thailand, India, and Indonesia, the company brings substantial expertise and resources to Cambodia.
With the EV industry poised for exponential growth in Cambodia, now is the ideal time for investors to seize the opportunities presented by this dynamic sector.