JakartaGlobe-Dec 18, 2023
The recent ASEAN-Japan Summit in Tokyo has marked significant progress in the bloc’s attempt to build a regional ecosystem for electric vehicles (EVs). According to Foreign Affairs Minister Retno Marsudi, the summit saw the launch of the ASEAN-Japan Co-Creation Initiative for the Next Generation Automotive Industry. As part of this initiative, Japan will provide $1 billion for the regional EV ecosystem, although the minister did not go into details on the funds. “Japan has prepared $1 billion to implement the partnership on developing an electric vehicle ecosystem in the region,” Retno said in a recorded press statement over the weekend. The Tokyo summit adopted a plan on how Japan-ASEAN envisioned their future cooperation. A copy of the document says that they will explore cooperation under the next-gen auto industry co-creation initiative. Possible partnerships include developing a master plan by think-tank ERIA for the next-gen auto industry. They will team up with the Asia Zero Emission Community (AZEC), and work to realize a diversified portfolio of production and exports for EVs. As the name suggests, the AZEC is a platform of Asian countries that focuses on promoting decarbonization. Japan not long ago agreed to help the Southeast Asian bloc develop its regional EV ecosystem under the “ASEAN Plus Three” mechanism. The ASEAN Plus Three is the cooperation between the regional grouping and three East Asian economies: Japan, China, and South Korea. The ASEAN Plus Three encourages the harmonization of regional regulations to improve the cooperation on the standards of the EV ecosystem to facilitate trade. Read more at: https://jakartaglobe.id/news/japan-to-provide-1b-for-aseans-regional-ev-ecosystem
