ASEAN countries have large market demands for new energy passenger vehicles, buses, special vehicles and micro passenger vehicles, said Fang Haifeng, a researcher with China Automotive Technology & Research Center.
According to him, ASEAN is expected to become the six largest auto market in the world around 2018, when the car sales in the region will increase to 4.7 million units from the current 3.5 million units.
Despite the booming development of auto industry, the ASEAN countries are facing serious challenges and potential dangerous in ecosystem and living environment, basis for sustainable economic development and natural resource consumption.
Therefore, major automobile production and consumption countries in the region are all dedicated themselves in developing green and environmental-protection cars by issuing stimulus policies, he added.
Chinese automakers have strengthened their cooperation with the ASEAN counterparts in the filed of new energy vehicle (NEV). The power battery and NEV producer BYD (002594.SZ) participated in Thailand's strategy of replacing fossil-fuel buses with electric buses. BAIC Motor (01958.HK) announced this May it will build a complete vehicle manufacturing base in Malaysia.
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