The report discusses the impact of electric vehicles on real estate in Asia Pacific. Governments in most markets in the region are planning to phase out the sale of new internal combustion engine (ICE) vehicles by 2030, with the bulk of these vehicles being passenger cars. Singapore has set a aggressive deadline of 2030, while Australia will phase out ICE vehicles by 2035. Electric vehicles (EVs) will continue to be permitted to sell hybrid electric cars, while other countries such as Korea will also allow the sale of all-electric vehicles between 2035-2049. The report also mentions the introduction of zero-emission vehicles (ZEVs), such as hydrogen fuel cell vehicles, which are already being sold in North Asia and some countries in mainland China. Toyota and Hyundai are already selling hydrogen passenger cars in North Asia, while automakers in mainland China are making lithium-ion batteries. The report concludes that investment in hydrogen fuel cell vehicles is expected to increase, with most of these vehicles not having plug-in capabilities to charge the battery.
How will electricvehicles impactreal estate inAsia Pacific?
REPORT
EV ChargingInfrastructure
CBRE RESEARCHOCIOHER2023
01Strong growth inelectric vehicle sales
Governmentscommit to phasingout ICE vehicles
What is n electric ehicle?
Proposed lates lor phasingout the sale of new inlernalcombustion engine (ICL)vehicles
Plug-in Hybrid Electric Vehicle cPHE)
––PHEvs ar poweiod by an intornal combusLioriengine and electric. mator. This enables themto use off-board electricity tor powerSample Mxdeals: Ford Escape, VolkswagenTiguan Syy
Almost all markets in Asia Pacific plan to phase ut the sale ofnew internal comhustinn eng ne (icE3 vehicles, t.he bulk nf whichccmpri sc passengor cars, led in thc spaoe of twoycars, ruaching 10 rnillion in 2022, witf: Asia Pacific accuunlingtor al most vo thircls ct this figure. Over=ll p=ssenger ca' salesfe lin many r arkets over the sa me pe icd.
Gnvernment polic es nclt.ding suasidiea alld tax incentives,along wi.h thc risc of domosic I>ranliclv $cccssiblecharying poinl worldvidu, uy uivalent lu oric fur uvery 10electric vehic es. Over 20% of sublic c7argers are in mainlancChira and
