Southeast Asia EV Sales Double in Q2 2025 as BYD, VinFast Drive Structural Shifts
- SEA’s EV (BEV+PHEV) sales grew 102% YoY in Q2 2025, marking one of the fastest shifts toward electrification globally.
- BEVs remained the backbone of growth (+99% YoY), while PHEVs, with 12% of sales, continued to carve out a role as a transitional solution in markets with patchy charging infrastructure.
- Global leader BYD and rising regional contender VinFast expanded aggressively, supported by competitive pricing, strong demand and new capacity. Proton’s e.MAS brand also marked Malaysia’s first serious EV entry.
- Chinese-origin OEMs grew to 63% share, with Vietnamese and Malaysian players also gaining ground. In contrast, European, US, South Korean and Japanese brands continued to lag due to slower EV rollouts and limited local presence.
Seoul, Beijing, Berlin, Buenos Aires, Fort Collins, Hong Kong, London, New Delhi, Taipei, Tokyo - August 29, 2025
Southeast Asia’s electric vehicle (EV*) sales recorded an impressive 102% YoY growth in Q2 2025, marking one of the fastest shifts toward electrification globally, according to Counterpoint’s latest EV Sales Tracker. This surge reflects not only the rising availability of affordable battery EVs (BEVs) but also the overall momentum created by stronger consumer awareness, supportive government incentives, and expanding local production capacity.
SEA EV Sales by Powertrain Mix, Q2 2025 vs Q2 2024
Within this growth, BEVs remained the dominant driver, while plug-in hybrid EVs (PHEVs) contributed incrementally from a much smaller base. The modest but accelerating PHEV adoption is supported by consumer demand for flexibility amid limited charging infrastructure and still-high BEV price points. “While the 12% share of PHEVs in SEA’s Q2 EV sales remained well below the global average of 34%, the steady upward trajectory indicates that the segment is gradually carving out a more defined role in the regional EV landscape,” said Research Analyst Abhik Mukherjee.
The competitive map of SEA’s EV market is also being redrawn, with Chinese and Vietnamese players firmly at the center. Notably, BYD and VinFast not only gained market share in Q2 but also signaled structural changes in how SEA’s EV ecosystem is evolving. Proton’s entry with its e.MAS brand is also noteworthy, marking Malaysia’s first serious entry into the regional EV race.
SEA EV Market Share by Brand Origin Country, Q2 2025 vs Q2 2024
Chinese-origin OEMs, whose market share grew to 63% in Q2, expanded their hold across SEA, rapidly adapting through localized production, broader EV line-ups, and competitive pricing strategies – illustrating how market ecosystems increasingly favor Chinese EV strategies. Vietnam’s VinFast also lifted its share, underscoring how national industrial policy and capacity ramp-up are translating into market gains. Malaysia, too, increased its share.
European, US, South Korean and Japanese brands, by contrast, continued to lag. “In particular, Japanese and South Korean OEMs, such as Toyota, Honda, Nissan and Hyundai-Kia, face challenges stemming from slower EV portfolio rollouts, continued reliance on hybrids, and limited local assembly presence compared with their Chinese peers, leaving them unable to compete effectively in SEA’s fast-growing EV landscape,” said Associate Director Liz Lee.
*Note: EVs here include both BEVs and PHEVs.
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Author
Liz Lee
Liz, an Associate Director at Counterpoint Research, has 14+ years of extensive experience in the tech industry. Previously, Liz worked for Samsung SDI focusing on IR (Investor Relations) along with insight-based analysis of emerging tech markets and corporate strategies. She holds an International MBA degree from Waseda Business School.