In a significant stride towards sustainable mobility, the CEO of LOCA announced at the ZEEKR Launch event that the company is now operating 20 DC Fast charging stations across Laos. Demonstrating an ambitious vision for the future, LOCA aims to double this number, reaching a total of 40 stations by the end of 2024.
This announcement underscores LOCA’s commitment to expanding electric vehicle (EV) charging infrastructure, aligning with Laos’s national goals for economic and environmental sustainability.
The government of Laos, along with parliamentary support, has endorsed the EV transition as a strategic response to economic challenges. Transitioning to electric vehicles is seen as a pivotal move to curb the rising demand for gasoline in the short term and to reduce long-term dependence on oil imports. Laos, with its abundant clean energy resources, is positioned to make a significant shift towards sustainable energy consumption, provided there is continued improvement in its power infrastructure.
During the 15th Lao Business Forum, the Prime Minister highlighted the government’s efforts to encourage the adoption of EVs, including imposing higher excise taxes on internal combustion engine (ICE) vehicles. Despite these measures, the importation of ICE vehicles has not slowed, increasing the demand for oil imports and underscoring the urgent need for a shift to EVs. The government might be considering further restrictions on the importation of ICE vehicles to accelerate this transition.
LOCA stands at the forefront of this transformative journey, leading the market in building a comprehensive EV charging network. With plans to expand the network to 100 stations by 2026, LOCA’s efforts are pivotal in supporting the country’s transition to electric mobility.
A significant aspect of the EV adoption wave in Laos is the substantial cost savings reported by EV drivers. Data from actual EV users reveals a dramatic decrease in energy costs compared to traditional gasoline vehicles. For every USD 100 spent on gasoline, EV drivers now only spend about USD 10 on electricity for the same distance traveled.
This stark difference in operating costs, combined with the decreasing prices of EVs, is making electric vehicles an increasingly popular choice among new car buyers in Laos. As of December 2023, a total of 3,598 electric vehicles (cars) have been imported into the country so far, with 2,101 imported in 2023 alone. This represents 25.1 percent of all new passenger cars (Sedan & SUV segment) imported in 2023, signaling a significant shift in consumer preference towards sustainable transportation options.
LOCA’s ongoing efforts, supported by proactive government policies, are significantly contributing to the growth of the EV market in Laos. By capitalizing on clean energy resources and advancing power infrastructure, Laos is set on a promising path toward achieving its economic and environmental goals through electric mobility.
