SINGAPORE: The rapidly expanding mobility sector in South and Southeast Asia is poised to attract up to $1.3 trillion in green capital by 2030, according to a report released ahead of Climate Week NYC by LeapFrog Investments and Temasek.
This surge mirrors China’s electric vehicle (EV) growth, with affordable EV options gaining traction across low-income markets.
The report highlights that electric scooters and three-wheelers are becoming cheaper to own than petrol vehicles, driving green mobility adoption, especially among first-time buyers.
EVs at 20%
In India, EVs now account for 20 per cent of three-wheeler fleets, aided by battery-swapping stations and lower operating costs, which boost driver income by 20 per cent.
With mobility emissions accounting for 10 per cent of Asia’s total GHG emissions, rapid electrification is crucial. The report emphasises that the $1.3 trillion in capital demand for mobility surpasses that of the energy and food sectors combined.
