Yinson CEO Advocates High-Value ASEAN EV Ecosystem

Yinson CEO Lim Chern Yuan, has emphasised the importance of a unified ASEAN strategy to strengthen the electric vehicle (EV) industry across the region. Yinson is the outfit behind ChargEV, a prominent charge point operator (CPO) and DrivEV a EV leasing company.

Speaking at the recent ASEAN Economic Opinion Leaders Conference during a panel discussion titled "ASEAN EV Implementation Roadmap," Lim outlined a vision for regional collaboration to position ASEAN as a competitive force in the global EV market.

Lim also stressed the necessity of moving away from the existing low-value assembly model and toward high-value industries that create high-paying employment.

He further pointed out that Malaysia’s semiconductor industry plays a critical role in the EV ecosystem and praised Indonesia’s strategic focus on battery production, leveraging its significant nickel reserves.

According to him further, ASEAN countries must adopt a comprehensive approach to determine which countries should specialise in specific sectors of the EV value chain, rather than compete with one another.

Using China as an example, Lim explained, “China developed a fully integrated supply chain driven simply because of its strong domestic market. Therefore, ASEAN countries must avoid fragmented policies that could hinder their ability to compete globally.”

Additionally, to attract investments and build a robust regional EV ecosystem, Lim noted the importance of increasing domestic demand for EVs across ASEAN.

Lim also highlighted Taiwan's success with battery-swapping stations and a robust aftermarket for EV motorcycles as a model for ASEAN. He urged similar initiatives to boost consumer confidence and attract investments in the regional EV sector.

Beyond manufacturing, Lim also encouraged ASEAN countries to stop mimicking China but instead invest in high-tech fields of their own such as software engineering for advanced driver assistance systems (ADAS) and renewable energy technologies.