Cambodia’s home-grown electric car still parked

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Angkor EV 2013

The first electric car in Cambodia, the locally produced Angkor EV 2013 that was unveiled in January 2013, is still parked due to a lack of funding, the Phnom Penh Post reports.

Seang Chan Heng, general director of car manufacturer Heng Development said she is currently on the hunt for investors or business partners to raise the necessary $100 million that are needed for assembly.

So far, only a few units were produced with an initial investment of around $20 million from local company Chou Leang Alliance Group. However, the factory that would employ up to 300 workers is idle at the moment.

The car would cost around $10,000, Heng said at the presentation in January. If it gets produced eventually, it will enter Cambodia’s growing auto market, but it remains to be seen whether an electric vehicle can gain market share, as Cambodian consumers can spend the same amount of money for second-hand cars, which account for the majority of purchases. the market size is currently 2,000 new cars per year and around 20,000 used cars.

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Reading Time: 1 minute

Angkor EV 2013

The first electric car in Cambodia, the locally produced Angkor EV 2013 that was unveiled in January 2013, is still parked due to a lack of funding, the Phnom Penh Post reports.

Reading Time: 1 minute

angkor_EV_opendoors1
Angkor EV 2013

The first electric car in Cambodia, the locally produced Angkor EV 2013 that was unveiled in January 2013, is still parked due to a lack of funding, the Phnom Penh Post reports.

Seang Chan Heng, general director of car manufacturer Heng Development said she is currently on the hunt for investors or business partners to raise the necessary $100 million that are needed for assembly.

So far, only a few units were produced with an initial investment of around $20 million from local company Chou Leang Alliance Group. However, the factory that would employ up to 300 workers is idle at the moment.

The car would cost around $10,000, Heng said at the presentation in January. If it gets produced eventually, it will enter Cambodia’s growing auto market, but it remains to be seen whether an electric vehicle can gain market share, as Cambodian consumers can spend the same amount of money for second-hand cars, which account for the majority of purchases. the market size is currently 2,000 new cars per year and around 20,000 used cars.

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