The number of registered electric vehicles (EVs) in Cambodia increased by 1,000 percent last year, reflecting the growing awareness of their benefits. The government also supported the private sector in building charging stations.
There are now more than 700 registered electric vehicles in the country, said Sun Chanthol, the Minister of Public Works and Transport, adding that the year 2022 opened a new page in the use of electric vehicles.
“The number of people using EVs has increased significantly as users started realising the benefits of using them,” he said at a review meeting of the ministry on Wednesday.
The ministry will further encourage people to use electric vehicles, he said, adding that electric cars significantly reduce pollution levels. Import duties on EVs have been reduced and the cost of travelling by them is cheaper than gasoline cars.
The ministry in collaboration with the UNDP has installed four EV charging stations in the country and the private sector has built another five.
The ministry will also formulate a strategic policy on the use of electric vehicles and work with private companies to prepare for the installation of 200 charging stations across Cambodia.
There are many reasons for the rapid rise in EV sales, both in Cambodia and worldwide, according to a study. The cost of battery technologies has sharply declined over the past few years, thereby reducing the cost of EVs as well.
The emergence of batteries with increased energy density, increased cycles of charging and discharging, and lower charge losses has directly led to an increase in the lifespan and reliability of EVs increasing the confidence of consumers.Cambodia reduced import duties on EVs in 2021 to about 50 percent lower than taxes on traditional internal combustion engine vehicles. This is providing an incentive for people to shift to EVs.
The government also encouraged investments in EV assembling plants in Cambodia. This move has the potential to create more green jobs and help position Cambodia in the emerging global and regional supply chains for EVs.
In 2022, there were more than 520,000 registered vehicles in the country, of which 430,000 were motorcycles and more than 80,000 other vehicles of all types, an increase of nearly three percent compared to 2021.