With the pandemic slowing down, Korea-based manufacturer, especially Samsung, has started undertaking efforts to diversify risks as part of its Southeast Asia strategies.

Association of Southeast Asian Nations (ASEAN), the seventh largest automotive manufacturing hub worldwide, produced a total of 3.5 million vehicles in 2021, exceeding the volume of 2.85 million units in 2020.

Based on DIGITIMES Research's observations on the global electric vehicle (EV) market, in contrast to the weaker-than-expected overall car sales, EV sales exhibited prominent growth in 2021.

Japanese automakers make their way into Southeast Asia at their own pace. Toyota with abundant corporate resources started out by building multiple assembly lines in several countries across the region while gradually undertaking localized components production and exports business.

Aside from Europe, China and the US, Digitimes Research believes India's EV industry also has great development potential.

Taiwan-based manufacturers are expected to show various levels of strength in different areas but have an established presence in EV components and subsystems.

Digitimes Research expects the global EV penetration rate to exceed 20% by 2025 and global EV sales to grow at a CAGR of 40% 2020 through 2025.

Kicking off in 2021, China's 14th 5-year plan continues to include quantum technology as one of the key development projects.