Tracxn, a global market intelligence platform, has unveiled a list of the top 16 electric vehicle (EV) startups in Southeast Asia, which have collectively secured $622m in equity funding. The companies, all founded in 2016 or later, are at the forefront of the region’s burgeoning clean mobility landscape, spanning sectors such as electric two-wheelers, commercial and marine EVs, battery-as-a-service, and EV charging infrastructure.
Singapore leads the cohort with eight companies, followed by Indonesia with four, and Thailand and Vietnam with two each. This distribution underscores Singapore’s position as a central hub for EV innovation in the region. The startups range from Seed to Series B stages, with most at Series A or B, indicating a maturing ecosystem moving towards commercial scale.
Prominent investors such as Peak XV Partners, Jungle Ventures, and GSR Ventures have backed these companies, reflecting strong regional and global interest in Southeast Asia’s EV market. “The list provides a snapshot of EV companies that have attracted significant investor backing,” Tracxn stated.
The report highlights the diverse technologies being developed to accelerate the transition to cleaner transport solutions in Southeast Asia. As the region continues to urbanise rapidly, these startups are poised to play a crucial role in shaping the future of mobility.
With the EV sector gaining momentum, the continued support from investors and the focus on innovation are expected to drive further growth and development in the region’s clean mobility initiatives.
