Electricite du Laos and GEELY Technology Company in collaboration with Krittaphong Group have signed an agreement on cooperation for the development of the electric vehicle sector in Laos.
According to a report by the Ministry of Energy and Mines, the Electric Vehicle Development Project will promote the use of electric vehicles in Laos.
The signing ceremony took place in Vientiane capital on Tuesday, witnessed by Minister of Energy and Mines, Dr. Khammany Inthirath, the Chinese Ambassador to Laos, and other relevant officials.
Minister of Energy and Mines, Dr. Khammany Inthilath, praised the new venture, saying the cooperation on electricic vehicle (EV) development is a major part of the country’s strategic plan in the energy sector.
Laos is promoting the use of clean energy in the transport sector as part of measures to translate the government’s policy into an action plan until 2025, a strategy for 2030, and a vision for 2050 for supplying energy to the sector.
He said the project could be run using domestically produced energy, which would help Laos reduce its reliance on fuel imports and fuel price risk.
The project will undertake a feasibility study on vehicle system development, technical service center construction, and public charging stations at various locations.
EV Laos then teamed up with BCEL to launch a smart card system for the payment of charging costs for electric vehicles.
Laos imports a large volume of fuel annually which has caused a huge trade deficit over the years, according to the Ministry of Energy and Mines.
Meanwhile, Japanese electric vehicle cable manufacturer, Bando Densen, has opened a factory in Savannakhet Province and will produce many of the cables used in electric vehicles around the world.